Quote:
Originally Posted by BigAls87Z28
With Chap 11, people will just read "Bankrupt" and not buy cars. So they will need some sort of backing, so the goverment would have to step in to say to the people "that we got it coverd." Warranty is a non-secured debt, and a lot of the times they can wave buh-bye to it.
Like recently with Circuit City gift cards, the scare was that they were gunna say GTFO, but CC stepped in and said that we will cover them for the holidays so that the sales could keep flowing.
Now in Chap 7, you are SOL no matter what, and probably more ways then one.
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But if they do C11 on their own w/o govt interference (make no mistake this money is going to have enough strings attached to consider management marionettes) the govt has no cards in the game and will not cover the warranties.
I ran down to CC and used the couple gift cards I had ASAP.
