The only money that Amerifactors would owe Hope Communications would be the RESERVE from their account. Assuming they were ADVANCED 90% of the invoices value upfront (that's what we would have ADVANCED), you're talking about 10% of all the invoices that were outstanding unpaid at the time of the bankruptcy declaration. Knowing that Amerifactors will extract their FEES from this amount as well, you're not talking about much money. Also, once bankruptcy was filed, the company that owed Hope on the invoices will probably withold payment of invoices to Amerifactors by court direction.
Additionally, as part of any bankruptcy, That money will be frozen by the court and distributed out to all legal claimants (that means company credit cards, vehicle loans, equipment loans, subcontractors, etc.). What I'm telling you is, instead of going to Amerifactors, you need to file a lien with the court and try to get what you can from them. Amerifactors is not going to give you the money and run afoul of the court.
Of course, this all assumes they have filed bankruptcy as this forum is readily suggesting. Good luck to all of you folks.
Re: Hope Communications and S & W
Member #: 23344
Registered: 5/4/2003
Posted:
93
Name:
Jerry Ketsdever
Name:
Jerry Ketsdever
Company:
Olympic Credit Fund
Occupation:
Factoring
Location:
Tampa, Florida
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