Bankruptcy Letter

[Tim]

Did any of you ex ATAer get the notice in the mail today or recently about the upcoming ch 7 hearing. Not sure why but I get 2 everytime they send them out. I read where they have over 3000 creditors against them and owing them more and $3000 each. Unfortunately I dont think anyone is going to get much if any from the deal and the Williams will get off lightly

 

[Mr_Creepy]

Yeah I got it.

As far as I can tell it is another request by the lawyers to be paid before the creditors.

Like I said before, the only people who will make money on this deal is the lawyers.

 

[Tim]

Luckily for me I got my money back a year before they closed so I not sure why I get the letters but I do. Unless after some kind of audit they still owe me money that I would never ever see. Of course the lawyers want to be paid first they have a house in Windmere to pay for and the wifes new 535.

 

[ERJ-135]

Received another letter from the court, last week, on another hearing to grant more money to the A%$#neys. How long does it take for the hired guns to figure out that the students and employees got the shaft?

 

[Tim]

I got 2 the other day also...What happened to the students website...it wont come up when I type in it. Have the abanonded the cause or just to much frustration. I hope they dont give up the fight and they nail Big Jim and the boys/girls

 

[Phil2016]

Do either of you have the letter handy that you could provide the contact information? I need to update my address with the court (you know, to collect that big 50 cents each we'll all get by the time it is all settled).

Ok, 50 cents is probably wishful thinking.

Anyone know if the Marco Island house was flattened from all the hurricanes last year? I guess one can only hope. Oh well, their day will come (hopefully sooner rather than later) where they'll have their true judgment day.

 

[Tim]

Phil I will find the letter and get you the address . .

 

[Phil2016]

Tim, thanks.

It actually arrived this morning through the post office's forwarding from the old address.

For any other ATA'ers who might want/need it:

David K. Oliveria, Clerk of Court
United States Bankruptcy Court
Middle District of Florida
135 West Central Boulevard, Suite 950
Orlando, FL 32801

and

Case No. 6:03-bk-03571-ABB

Cheers!

 

[JJPilot]

The website, obviously, is down and will stay that way. We had no more to report so when it went down we didnt bother to fix it and put it back up.
The reccomendation and final letter was sent via email many months ago.

 

[Vaid]

Hey Tim,
Did you have a Key loan or SLM?

 

[ERJ-135]

I understand that Key Bank reviewed the outstanding loans and that the former students at ATA are excused from repaying the loan. Any truth to this????

 

[rausda27]

[ QUOTE ]
I understand that Key Bank reviewed the outstanding loans and that the former students at ATA are excused from repaying the loan. Any truth to this????

[/ QUOTE ]

Nope..a buddy of mine settled with Key.. he had to pay them 15,000 cash to forgive the rest of the debt, I think 55,000 or something like that...

Sucks!

 

[Phil2016]

[ QUOTE ]
I understand that Key Bank reviewed the outstanding loans and that the former students at ATA are excused from repaying the loan. Any truth to this????

[/ QUOTE ]

Nope, as said above, each student had the individual option of reaching a settlement agreement with Key. Some happened quickly, others took a bit longer, and some are still working it out. We went back and forth for a couple of months and then reached an agreement that was fair to us both, sent them a cashier's check, and moved on.

For those that had been at ATA a while, most of them were not getting very good settlement offers.

 

[Tim]

When I was there I had SLM and I was fortunate enought to get out about 1 year before the downfall. It took me about 80 days to get my loan sent back. The contract said within 60 days and Christian swore he had a minimum of 60. I got a lawyer to send a letter and got the money back shortly after that.

 

[smd821]

Has anyone seen the ATA loan show up on your credit report???

 

[Phil2016]

[ QUOTE ]
Has anyone seen the ATA loan show up on your credit report???

[/ QUOTE ]

My Key loan showed up as a normal debt before I reached a settlement. Now it doesn't even show up, as if it never existed.

 

[JJPilot]

my settlement amt is there.

 

[Phil2016]

[ QUOTE ]
my settlement amt is there.

[/ QUOTE ]

Ahh, good point. In my case I sent one big check in return for a lower settlement amount, so mine was "paid in full" right away.