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Bus Discussion => Bus Topics ( click here for quick start! ) => Topic started by: Busted Knuckle on February 27, 2010, 08:58:51 PM



Title: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 08:58:51 PM
Well after a year of making EVERY payment on the 2005 Setra S417's we "bought" on a lease purchase buy out of "Just For The Fun Of It Charters and Tours!" Bank of America has decided that they are going to take the buses back because the owner of J4F had no legal right to "re-assign the buses" even though he came up with a plan to help us and not turn the buses in and file bankruptcy. Which all of us viewed as a WIN-WIN situation for him, us, and Bank of America!

We have been trying to transfer the loan over into our names, but because we have had some bumps in some of our personal credit histories, (or none to begin with) and have always paid cash with the business rather than finance things the company has no credit history either. Plus the first 3 and a 1/2 yrs that dad, mom, and I drove and maintained the buses and ran the company on the go we did less than a good job of record keeping and tax preparations. So while my sister has been and is scrambling to get things in-order to make BOA happy. I looks like if we don't have everything done just the way they want it by Tuesday they are going to come get the buses!

Just last week they had a guy from Setra North America come out and do a "collateral inspection". And whole time he was here he was bragging to us how he could see that we had spent tons of $ and time fixing up and correcting many issues he saw when he did an inspection just prior to us taking over them! And that he was going to go back and tell them "it was in their best interest to keep the buses where they are and to work with us!"

Well I guess he was just B.S.ing us as 3 days after his visit the man we are buying them from got a certified letter telling him to contact them by 03/02/10 letting them know where to pick them up!

So looks like we're getting kicked back a few steps and while we may be down fer a spell we won't be OUT! It ain't the first time we've had set backs and won't be the last! But I can tell you we started with nothing and we still have most of it left!

We will be BACK!

I tried and tried to get a little bit more time to get things in order but was told "you have until the 2nd!"
They didn't care that we'd just made yet another payment (even after hearing their intentions of picking them up!), or that we just put $20,000 into a trans cooler and trans on one of them!

Well I am slightly depressed about it but we have other buses and we will survive this. But it really makes me see that the deal that happened to Arrow Trucking probably went down pretty close to the same way! ("yeah sure, we're working with ya, we'll help ya get things straight! AH, turn all your trucks in at the nearest Freightliner dealers NOW! PERIOD END OF STORY!"  >:()
 :'(  BK   :'(


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: gumpy on February 27, 2010, 09:07:58 PM
Pull the engines and trannys by Tuesday! Let them tow them away in their current condition, and they can try to collect from the current leaseholders!

By the way, I'm looking for some aluminum wheels, 24.5. Maybe there are some like that one those buses?


BTW, who were you making payments to?  The lease company or the previous owner?  If the former, they probably don't have a leg to stand on. If the latter, they may not have
been making payments.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Barn Owl on February 27, 2010, 09:08:10 PM
Stall, get a lawyer, put up every road block you can. If all else fails "gas and match" at the last minute and make them wish they left a good thing alone. In all seriousness, what a crappy thing to do. Sorry to hear about it BK and you have one heck of a good attitude.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Barn Owl on February 27, 2010, 09:09:35 PM
I like Grumpy's idea. We expect to see a lot of Serta parts on Ebay soon.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: compedgemarine on February 27, 2010, 09:12:55 PM
your not the only one going through this. the bank doesnt care. they will take them back, sell them for 20 cents on the dollar and them the 'you know whats' in washington will hand them more cash from the TARP fund to cover their "losses". the only reason they are doing this is they remove the deal from their books and end up with more cash thanks to the taxpayers money. I know a few that are dealing with the same problem now. some have had to file bankruptcy even thought all the payments were being made on time.
as was said, Stall and find a lawyer.
good luck
steve


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: HighTechRedneck on February 27, 2010, 09:15:10 PM
My heartfelt sympathies BK.  On the bright side, even as much money as you guys have lost putting it into those buses, the chances are good that when BofA auctions them (presuming they do that the same way banks do homes and other vehicles), they will lose much more than you.

One word of caution, be sure to keep any communications you have received from them stating that the previous owner did not have the right to transfer it.  If they haven't given it to you in writing, demand it before you let the buses go.  Otherwise, after they auction them for a fraction of the loan value, they could try to come after you guys for the balance.  But if you have it in writing from them stating that the transfer of the loan was not valid, then they they will be limited to going after the previous owner.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Barn Owl on February 27, 2010, 09:17:10 PM
What about that idea? Let them have them, then re-buy at auction for 20 cents on the dollar.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:17:33 PM
Quote from: gumpy
Pull the engines and trannys by Tuesday! Let them tow them away in their current condition, and they can try to collect from the current owners!

By the way, I'm looking for some aluminum wheels, 24.5. Maybe there are some like that one those buses?

Don't tempt me! ;)
(I already mentioned it and dad said "let's wait", mom said OH NO, I don't want to hear anymore! :o)
sorry 22.5's

Quote from: Barn Owl
Stall, get a lawyer, put up every road block you can. If all else fails "gas and match" at the last minute and make them wish they left a good thing alone. In all seriousness, what a crappy thing to do. Sorry to hear about it BK and you have one heck of a good attitude.
[/color]

I thought of that too, but we just renewed the insurance and paid a HUGE down payment for the year and they'ed probably make our insurance pay for them!  :(

BUT I ain't done YET! (After all I am somewhat of an old school backwoods type a fella ya know! ;) !)
;D  BK  ;D

It ain't over til the FAT BK sings! ;D  ;)


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Brassman on February 27, 2010, 09:26:10 PM
I would guess the fuel is yours, the engine oil, cool.nt too.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:30:34 PM
Well unfortunately they have sent us a copy of "the clause" in their contract with Don. And their advice to us was "just turn them back over to him, and then we'll both go after him!"

Problem is Don hasn't tried to deliberately do us wrong! And he's already said he'd file bankruptcy! (we're the ones who saved him from doing it in the first place! So suing him will get us put on that list too!)

As for buying them back at auction that won't happen either! These are "secured lease/loan deals" where Setra agreed to take the buses back if the buyer defaulted since BOA is their "in house finance company"! So they will go back and sit on Setra's lot (like tons of them already there!) and wait to be sold! They may sit there forever before selling but they won't put them up for auction!

We still are trying to make them happy by Monday, but if all else fails I will let them know what back alley I left them sitting and running in with the door open, in what ever big city I happen to be near! ;)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:31:24 PM
I would guess the fuel is yours, the engine oil, cool.nt too.

;) 

;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Barn Owl on February 27, 2010, 09:31:32 PM
Quote
I would guess the fuel is yours, the engine oil, cool.nt too.

You forgot all of the dash indicator bulbs to!   ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: gumpy on February 27, 2010, 09:36:10 PM
Maybe you could try calling up your local congressman and see if they might intervene. After all, they're responsible for his mess in the first place!

The fact of the matter is, BofA will come out making tons of money on it. BofA is probably buying them for pennies on the dollar from Daimler as a bad debt. Then they sell them for whatever they can get, which will certainly be above what they paid. Then, and here's the fun part, they get reimbursed for something like 85% of the loss on the original Daimler loan from the government. Then they also go after the previous owner for anything above that. In the end, they make more money than the original loan was for, and it's all perfectly legal. Oh, and I think Daimler either gets reimbursed by Gov, or gets to write off the loss against profits so they don't have to pay any taxes.  

Pull the engines and trannys. Give them a blown core.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: HighTechRedneck on February 27, 2010, 09:40:04 PM
While oil and coolant missing might be covered by "maintaining collateral in good condition", I can't imagine anything legally wrong with taking your fuel out their tanks.  And of course don't mention it to the repo drivers. If they aren't bright enough to notice it before they leave - roadside assitance.  And if they do notice it, offer to sell them some for $5/gallon.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: gumpy on February 27, 2010, 09:42:50 PM
While oil and coolant missing might be covered by "maintaining collateral in good condition", I can't imagine anything legally wrong with taking your fuel out their tanks.  And of course don't mention it to the repo drivers. If they aren't bright enough to notice it before they leave - roadside assitance.  And if they do notice it, offer to sell them some for $5/gallon.

Actually, if he is not legally the owner, then that clause probably doesn't apply to him. Let them go after the "legal" owner for any damage or missing parts (engine, tranny, wheels, etc).



Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:43:07 PM
While oil and coolant missing might be covered by "maintaining collateral in good condition", I can't imagine anything legally wrong with taking your fuel out their tanks.  And of course don't mention it to the repo drivers. If they aren't bright enough to notice it before they leave - roadside assitance.  And if they do notice it, offer to sell them some for $5/gallon.

What? $5 a gallon? What do I look like, some kinda nice guy? More like $25 bucks a gallon and a 100 gallon minimum! ;)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:47:46 PM
Quote from: gumpy
Actually, if he is not legally the owner, then that clause probably doesn't apply to him. Let them go after the "legal" owner for any damage or missing parts (engine, tranny, wheels, etc).

By their own admission "you guys are not on the contract with us, so it's him we will go after!"

You are so right Craig, and Don would agree strip 'em he already told us that the one the trans cooler went bad in and cost us a tranny should have had a "hot brake problem on dark lonely road!"

But I am not headed there! (yet!)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: gumpy on February 27, 2010, 09:50:47 PM
If you toast them, it's arson. If you blow up the motors and they repo them before you get them rebuilt and reinstalled, it's maintenance.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 09:56:12 PM
Trust me I ain't toasting them! Shoot that would get them insurance $ from my insurance company!

Now I did think about asking their address so I could "special deliver them!" ;)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Singing Land Cruiser on February 27, 2010, 09:57:40 PM
Strip'em BK, Just F'ing Strip'em >:(


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 10:01:28 PM
But it'd be so fun to call them up and say "Now go over by the window where you can see the buses I am bringing you!" And then watch the look on their faces when they realize I'm coming through that window to park it "at" their desk! ;D
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on February 27, 2010, 10:04:28 PM
Besides with them being out here and inspecting them last week and taking pictures "they'd probably press charges for theft" AND another felony is the last thing I need! Especially in my older "calmer" and wiser years! (I didn't look at it like I do now when I was young an dumb!)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: DMoedave on February 28, 2010, 01:12:18 AM
i hate Bank of America. they just closed our line of credit no notice, nothing, bamm. The said all the houses in our neighborhood had declined in value. we have never been late. its bs. Hope it works out for you. I am going all local banks no more citi, chase or boa, they could care less about their customers.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Nusa on February 28, 2010, 03:32:44 AM
You could try a mechanic's lien on the buses for what you've got in it, which may give you a legal right to hold the buses until you've either been paid or a judge rules on the matter. I'd run that idea by your lawyer, of course. I'm not one.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Dreamscape on February 28, 2010, 04:41:13 AM
Fight fire with fire. Take all the wheels off and block them up. Get a lawyer and see what your options are. I'm afraid it doesn't sound good. Just don't do anything that will benefit them.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: robertglines1 on February 28, 2010, 04:51:01 AM
Sounds like me they have been in your shop for repair if you have no standing as a owner?What about that bill!!!!and storage cost!!need a lawyer quick ....play their game in court...maybe it you delay pick up of buses thru legal means you could use them free until the court decides...


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: cody on February 28, 2010, 04:54:46 AM
I talked to my brothers attorney and a mechanics lein has the power of law in this case, make the bank pay off the lein before they can take posession of the buses, thats how it would be read in michigan.  Technically if Don didn't have the authority to sell the busses he did have the authority to have the buses serviced and you being the servicing agent have the obligation to test any service work done,if the bank doesn't pay for the service work performed, the service center has the legal right to remove the parts and then sue for the labor or hold the item until the bill is satisfied.  Either way it's a dirty shame.  In michigan if the service bill isn't paid then the service center owns the vehicle.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been f
Post by: johns4104s on February 28, 2010, 04:59:29 AM
I would go to Setra and start discussing a good deal with them. I bet they would work with you. Due to the economy I bet they are getting all sorts of buses back. They will have a way to help, Like someone said call your congressman.

We will stay tuned and pray.

John


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been f
Post by: johns4104s on February 28, 2010, 05:22:21 AM
BK
Why not post your congressman's name and phone # here and we will all call him and tell him what a problem you are having with Bank/ax and chrysler. I don't see any reason why we cannot let him know we are concerned.

John


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: jackhartjr on February 28, 2010, 05:27:04 AM
Bryce, you said, "These are "secured lease/loan deals" where Setra agreed to take the buses back if the buyer defaulted since BOA is their "in house finance company"! As I see it the buyer has not defaulted...there is no default when the payments are current...no matter who is paying them!  Read that again, if the payments are current...there is no default!  No the issue of them being reassigned is a totalyy different issue...but...there has been no default.  Ask you lawyer 'bout that one.

On another note...after the Arrow Freight debacle the week of Christmas...where they left well over a thousand drivers stranded...I have learned the location of my bosses house...and if I am ever left stranded like that...I think I will have enough cash in my pocket to get the truck and trailer to his house...and drive it into his pool...and pray it is summer and not as cold as it is now!

Bryce, I think a pool party is in order...over at a bofa executives home.  We hate the jerks over here in NC!

Hate this for you Buddy!


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: gumpy on February 28, 2010, 05:40:14 AM
I think these guys are right.

First thing Monday morning, file a mechanics lien on the buses for all the parts (200% markup) and labor (at $200/hr). Make sure you've included enough labor and storage to cover your years worth of maintenance (i.e. lease payments). Send a copy of the bill to Don demanding payment. Park them next to the shop and pull the front wheels. Place a notice in the windshield regarding the lien. When they show up, hand them a copy of the lien and ask them nicely to leave your property. If they refuse, call the sheriff and have them arrested. Tell them when they've paid the lien in full, they can take the buses. Give them 30 days and follow the law to the letter.  

Unless you have a lien on them, they probably have the right to enter your property with sheriff escort and remove the buses. Get the lien filed!


You have a right to be paid for the parts and labor you've put on these buses if you don't own them. You also probably have a right to have part of your lease payments returned, as you could argue there was no legal agreement and you were overpaying for them.

However, if you let them take the buses, you'll have no recourse. Keep them in the shop or make them unmovable.

Get an attorney and file the lien on Monday morning.  Tie it up in court and stop making payments. Cancel your insurance, too. You should no be using these buses until this is settled.



Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: ArtGill on February 28, 2010, 06:06:52 AM
Use a lawyer just enough to keep the process "up in the air".  Make them produce original documents to a judge.  A lot of time they have problems finding the originals, just just have copies from where the documents were scanned in a computer.  Also, go to the state agency that licenses collection agencies and file a complaint and ask to stay any take back of collateral until they complete their investigation.  These will give you sometime to get some of your recent payment back by using the coaches.  Maybe a couple of months without payments.  Sue B of A for some misrepresentation or something to slow things down.  This will also kick the process higher up at B of A and maybe someone may want to settle.  If you can stretch this out time is on you side.

Just some ideas.  I wish you the best.

Art


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Tenor on February 28, 2010, 06:21:46 AM
if they end up haveing to go, don't forget that you've put tires on those rigs!  Pull'em and put the rims back on and put the bus back on the ground!  You can then sell the tow truck driver tires at "emergency" prices!

This is just wrong on so many levels!  Please post your legislators info here so that we can write appropriate letters!

Glenn


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: crown on February 28, 2010, 06:31:29 AM
bk i think everybody is on the right track if you wait to long they will tell you a lot of bs to keep you happy
then show up to take the bus's get a lein right away .  a guy i known way having his house forclosed on by
a different bank then the one he took the loan out from the bank sold the paper then that bank resold paper
when it went to court the lawyer told the judge he wanted the orginal paper the bank did not have and could
not get it the judge rulled that they had no right to forclose this might help you go file a claim


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: trucktramp on February 28, 2010, 06:34:18 AM
If you have no choice but to let them go, let them come and get them.  Park them where they can easily be driven away.  Before you park them, crawl under and remove the oil drain plug all but about the last thread or two.  Then smile and wave as they are driven away.  Later you can see just how far they made it before all of the oil was dumped on the road.
Just a thought my friend.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Paso One on February 28, 2010, 07:09:51 AM
BK sorry for your predicament but I believe you have been given really good advise from the above "arm chair lawyers "

I am one as well. The mechanics lein is the way to go  (  or start )  Cut and paste some of the great advice above and form your plan.

A couple things also to consider is if the bus left today on a charter ,They would also be deprieving you of your income source.

If you go to a lawyer make sure that appraiser's name gets on the documents as he was not a appraiser he was a scout.

If the bus was not as good as it was, you would be keeping them and they would be working with you.  (Think about it.)

If it is junk your the sucker if it is good they can realize $$$ somewhere else

Don't let them walk on you.   Get your repairs and upgrades $$ back.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: philiptompkjns on February 28, 2010, 07:12:39 AM
If you toast them, it's arson. If you "blow up" the motors and they repo them before you get them rebuilt and reinstalled, it's maintenance.

This.  I like this the  best.
I'd do that and the lien.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: bryanhes on February 28, 2010, 07:57:57 AM
BK,

Since you have put all this money into them I would file the mechanics lien as well. Although that may not keep them from having a legal right to pick them up. The problem I see is that they may tell you that Don was the owner and he owes for the repairs done, NOT the bank. If that is the case it may still allow the bank to pick them up as they have a greater interest than you (or investment as they will most likely cal it) in the buses and they did not order the work performed. I would check on that before spending the time and money to file the lien. Who is obligated to settle the lien? Registered owner, Bank or Setra? Just something to think about.

If they are going to take them back I would throw the old engines, transmission or whatever you have replaced back in them (unless you had to use them as a core) and then let them pick them up.

Also your insurance company should prorate and return some of your premium if they are going to be removed from the policy.

I would contact an attorney first thing Monday if it does not look like they are going to work with you.

Who were you making payments to?

Sorry to hear your troubles Bryce.

Bryan





Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: rv_safetyman on February 28, 2010, 08:14:57 AM
OK guys, you have to remember that this is a public forum and anything written here is discoverable in a court of law (even private exchanges would be discoverable).  I know most of you mean "well" with your "destroy" comments, but if anything did happen to the buses, even by accident, BK could be in a ton of trouble.

BK, we all know you well enough that we know you will take the high road.  The advice to get a lawyer involved and file a lien are good ones.

Your first post sounded like one bus was involved, but later posts sounds like more than one bus is involved.  Whatever the case, make sure you sister has a way of documenting the labor and parts invested in your bus(es).  I would be careful about doing any obvious "inflating" of rates.  I would however, document even the most minor repair and round the labor up to the even hour increment.  I think you will be amazed at how much you lien claim will be.

BK, like others I feel absolutely devastated by this terrible situation.  It seems that small, honest, businesses are being made to suffer.  I don't want to get politics involved here, but it just makes me sick to my stomach (almost literally this morning).

Jim


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: jackhartjr on February 28, 2010, 08:30:53 AM
Jim, you might not want to get this involved in politics...however if bofa had been allowed to fail...as it was almost ready to do...instead of being given billions of dollars...this would be a non issue!
How ya'll liking that change here boys?
Jack


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: zubzub on February 28, 2010, 08:49:58 AM
Hey BK sorry to hear of your troubles.  Pretty lousy birthday present


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: luvrbus on February 28, 2010, 08:54:33 AM
Bk, I talked to my daughter in Houston she said if all payments are current give them back to Don draw up a lease purchase agreement between you and Don and there is nothing Setra or BoA can do, no purchase agreement but a lease purchase agreement and have a good attorney do it with all the I's dotted and T's crossed.
She also said as long as the buses are in your possession you are responsible for damages called the possession law and most states have one.
She said the law was like when you take a car to a shop and they have signs posted saying they are not responsible for any damage or theft to your car while they repairing it for you they are responsible as along as they have the car no matter what the sign says  



good luck


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Hartley on February 28, 2010, 10:23:50 AM
One other thought is to have them towed and impounded by a recognized
wrecker service. ( aka Illegal parking or something.) Have them file a lien
and hold orders with the court. This might give you the time to formulate a
legal case to stand in the way of the bank removing the buses from a third
party legal binding agreement until you have your say in the matter.

You need a lawyer, Might be worth spending a couple grand to throw some
gasoline on the bad deal.

I thought that once you had mentioned a transport contract with some university
you might use that as a tool to help reinforce your need to keep the buses.
Any "regular" contract that is dependent upon "ability" might help.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Fred Mc on February 28, 2010, 10:36:10 AM

"OK guys, you have to remember that this is a public forum and anything written here is discoverable in a court of law (even private exchanges would be discoverable).  I know most of you mean "well" with your "destroy" comments, but if anything did happen to the buses, even by accident, BK could be in a ton of trouble."

I think that we on this forum can say whatever we like no matter how outrageous.. But BK should be very careful on how he responds.

But I do like the lein idea. BOA can use their lawyers to drag this out but I think the lien act is there to protect the little guy so it seems to me he has a legitimate route to go there.

Good luck

Fred Mc.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: belfert on February 28, 2010, 10:51:36 AM
Jim, you might not want to get this involved in politics...however if bofa had been allowed to fail...as it was almost ready to do...instead of being given billions of dollars...this would be a non issue!
How ya'll liking that change here boys?

If a bank fails the folks who owe money to the bank don't get their loans forgiven.  The borrowers would still owe the money to somebody.  Loan documents have all kinds of legalese allowing the bank to transfer the loan to another servicer while the borrower still owes the money.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Lin on February 28, 2010, 12:11:05 PM
Ask a lawyer about the mechanic's lean.  That sounds like a good start.  Really, anything that allows you to keep possession of the buses would be good.  Look for any way to delay them from having access to them until you can investigate all legal options.   As far as the politics goes, remember BofA is a corporation.  This is just another example of corporate psychopathic behavior which, for some reason, many believe should be protected as a right.  They feel that they have the right to act in any deceitful and ruthless way they want (it's not personal, it's just business, Vito), but try to make you adhere to the norms of fair play even though they think you are a fool for doing so.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Zeroclearance on February 28, 2010, 12:46:56 PM
When the first of the week comes around they will ask for the buses..   However, B of A most likely have there REPO hounds already on the case..    The Sheriff might come with the "hounds" to pick up the buses.    You need to get the meanest Pitbull Attorney that has pull with your local Sheriff.    This is a civil case..   To protect your rights you need to get in front of a Attorney as fast as possible. 

With most leases "it is up to you maintain the equipment"  Dollars already spent on the buses is pretty much water under the bridge.   

This is sad..   Setra send me a list of buses every month that are for sale.    You try to get a "leg up" and this happens..



Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: rv_safetyman on February 28, 2010, 12:52:15 PM
Quote
I think that we on this forum can say whatever we like no matter how outrageous..

Fred, I was not trying to take away your first amendment rights.  Just trying to make a point.  I will go bow out of the discussion.

Jim


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: jackhartjr on February 28, 2010, 01:00:09 PM
Brian, I know the loans would not be forgiven, I just think they should have been allowed to fail!  (BOFA that is!)

Zero, as a rule the sheriff and any other cop folks will not get involved in a repo.  The ones that do are stupid!
Jack


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: JohnEd on February 28, 2010, 01:06:10 PM
Lin and Clifford always seem to beat me to the punch.

HIRE THE DAM LAWYER....do it now!  Maybe go to an attorney you know and trust and get a refferal to a lawyer that specializes in this sort of crap and make sure that he is described as the rottenest, most vile, deceitful and unscrupulous BASTARD on planet earth.....and make him your BASTARD.

Let the lawyer determine if the mechanics lean is the best way to go.  After all, he wouldn't try telling you how to maintain a SETRA....would he?  I do know that you are responsible for the care and protection of those buses even if you found them alongside the road.  I cringed when you said the "inspector"for the bank was out and you allowed him to inspect.  THE BANK IS THE ENEMY and you should let your attorney decide what and how you will coperate.  If that Puke says they all had brand new tires and will swear to it, and he will swear to anything, then you could find yourself installing brand new tires to avoid a law suit.

You might consider assigning a large portion of any tort settlement to the lawyer. Tort being a recovery of damages that you endured as a result of B of A's unnecessary legal actions against you.  Not just the repairs they tried to help themselves to and the interruption of revenue generating business where you EARN a living, but the sleepless nights and Tums etc.  You do stuff for two reasons....firstly because you can and that seems to be the guiding rule of their behavior and secondly, and most importantly, it teaches them a lesson should they be open to learning.

Now, without Tort law you are grasping at legal straws.  B of A, all banks actually, contribute a pile of cash to the cause of "Tort Law Reform".   All they seem to talk about is how unfair it is that an attorney gets rich and that they would save money and be able to pass the savings along to the consumer.  The law is the law....you don't want sued....then don't take out the wrong KIDNEY or amputate the wrong fracking LEG and don't take actions because you have a barn full of legal staff on retainer and can crush the little guy.   I wish to not sacrifice my right to sue your @$# off if you damage me or mine and that some creep might not be able to game the system is absolutely no consolation.  You think they are out of control now you just watch them if they get their way with the tort law rewrite/abolishment.....just watch.  Then all you will hear from the cretins that vote this stuff is "see Martha, the little guy just can't win".  And Bubba Billy Bob Jim Jack will be correct at that point.

My heart felt disappointment at your predicament, BK.  Hire the Prick and get some sleep knowing that all that can be done will be done in your behalf.

Your Friend,
John


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Lin on February 28, 2010, 01:21:20 PM
Just to add something to what John said.  One of my daughters is a lawyer.  She was formerly with a large, expensive firm that thought a case with a $20,000. retainer was just too nickel and dime for them.  When someone she knew needed an attorney in a business matter, she once recommended a guy that had been her adversary.  She said that he was always on the edge of what he could get away with and was considered a real pest by the large firms.  He would cause them huge amounts of nuisance which they, of course, would bill to their client.  The reason she recommended him is that she said that it probably was the only way that a small, one man office could take on a large legal team.  Look for a pit bull here.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: JohnEd on February 28, 2010, 01:42:59 PM
And further more.....99% of the "one man law firms" FAIL quickly.  If that guy was making it "alone" he was somebody special.  At least according to my law professor and the many lawyers I used to drink with a couple days a week.  Make sure she gives you his name.  I agree....almost.  Make it a rabid Pitt Bull with a track record.

Good luck again,

John


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: luvrbus on February 28, 2010, 02:07:26 PM
Lin, great to know you have a daughter that is a attorney my oldest is a partner with Vinson and Elkins in Houston a huge law firm glad I don't have to pay her rates lol 


good luck


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: belfert on March 03, 2010, 06:18:32 PM
Any conclusion to this topic?  Did BOA repo the buses this week?

I don't understand why BOA wants to rent more space to park non-performing assets.  The payments were being made.  BOA could have just as easily adjusted the name on the agreement instead of taking back something they may lose money on selling.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: DaveG on March 03, 2010, 06:26:32 PM
Come on Bryce...were all hangin' here............


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: white-eagle on March 03, 2010, 06:45:30 PM
come on BK.  Tell us the jerks got outdone and you still have the agreement that allows you all to make money and pay back BOA. 

You just clinched it for me.  i was about to open a BOA account and now i wouldn't touch it with a 10 foot pole.  and to think our money went to save their sorrys A$$es.


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: luvrbus on March 03, 2010, 06:57:32 PM
I wouldn't put all the blame on BOA those are probably recourse loans and Setra may want the buses back and telling BOA to call the loans anyway possible.
I hope it works out for BK and his family 

good luck


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Busted Knuckle on March 03, 2010, 09:50:35 PM
Thank you all! It's still up in the air! (not the bus either! ;) )

And they are out pounding the pavement making mo $! (well except the one outside my window with the dog sleeping in it! But I will trade him places in the morning when I pull out early!)
;D  BK  ;D


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been f
Post by: philiptompkjns on March 04, 2010, 04:37:19 AM
Good job BK, it'll be harder to repo them if they never stand still!


Title: Re: Well um, Bank of America and Daimler North America do it again! (it's been fun!)
Post by: Fred Mc on March 04, 2010, 09:16:49 PM
"Fred, I was not trying to take away your first amendment rights.  Just trying to make a point.  I will go bow out of the discussion.'

Jim, this certainly wasn't a shot at you. I was just suggesting that we, as observers, can say whatever we want because its only our opinion and we are not affected. I was more concerned that Bryce has to be careful what he says as he is the one involved.

As for my first amendment rights, I'm not sure I have any as I'm a Canadian. But I can still have an opinion (no matter how outrageous it might be)LOL

Fred