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My husband and I lost $35,000 through the Dalbey institute

which the FTC shut down...
My husband and I lost $35,000 through the Dalbey institute which the FTC shut down in May 2011. Between feb 2008-July 2011 we purchased services from the Dalbey Education Institute or Winning in the cash flow business. The company was found to be fraudulent and deceptive. We filed a complaint with the Colorado Attorney General's office. There is a on going class action lawsuit against them still going on as of now. We called our credit card (Chase-Visa) company to dispute the charges and they will not budge. They say it's been too long and they will not refund our money. Since the the Dalbey Institute has been shut down and they filed bankruptcy, what are the chances of us getting our money back? This is very sickening. We have 3 boys and an adoption in progress and really need to regain this money back. Please give me some good news!
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Answered in 6 minutes by:
9/23/2013
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

The states attorney may be your best shot

Terry L. :

Unfortunately, unless they can track the funds and they are still there, it's unlikely you'll get anything back.

Terry L. :

If the bankruptcy case is still open, you can file an objection for the fraud to preserve your claim

Terry L. :

You can then sue the principals, but if they have anything to get, that's another story.

Terry L. :

Hopefully, the state/feds can seize assets to liquidate to pay back creditors. The bankruptcy case would do that too, but that will be shared by all creditors and harmed parties.

Terry L. :

If the case is still open, contact the trustee in the case and ask about filing a proof of claim.

Terry L. :

It sucks when I hear stories like this. Hopefully, there are assets to be liquidated to get you somethin.

Terry L. :

Do you have any questions?

Customer: What do you mean by the trustee in the case? I already filed a complaint with the Colorado attorney General. Is that the same thing?
Terry L. :

The bankruptcy case

Terry L. :

There is a trustee assigned in the case, and their job is to liquidate assets in a chapter 7 bankruptcy case.

Terry L. :

Did you get notice of the bankruptcy case?

Customer: I found out about that on line about the bankruptcy case, but nothing in mailings or emails
Terry L. :

I see.

Terry L. :

Is the case still open?

Terry L. :

You'll need to investigate that, if the case is open, contact the bankruptcy trustee to see if there are assets. If it is closed, you still may have a case, if your weren't scheduled in the case. Contact a local attorney about filing a motion to reopen that case to file an adversary.

Terry L. :

You must have bankruptcy court permission to proceed against them because the bankruptcy case offers debtors certain protections, that can be modified as needed by your motion etc.

Terry L. :

any other bankruptcy questions?

Customer: Here is the info from the Colorado Attorney's office. The first couple paragraphs should have the most info.Home » Departments » Consumer Protection » Consumer Protection Cases » Dalbey Education InstituteDalbey Education InstituteColorado Attorney General John Suthers and the Federal Trade Commission (FTC) have obtained a $330 million settlement and stipulated order for permanent injunction barring Russell T. Dalbey, founder and CEO of the Westminster-based Dalbey Education Institute (formerly known as America’s Note Network), from telemarketing and other associated business activities.The permanent injunction stems from a lawsuit initiated by the Colorado Attorney General's office and the Federal Trade Commission, filed in May of 2011, alleging that the infomercials, called “Winning in the Cash Flow Business” misled consumers to believe they could get rich quick by dealing seller-financed promissory notes or cash flow notes. As part of the order, the Dalbeys are banned from telemarketing, marketing or selling business opportunities, and from producing or distributing infomercials. The settlement order also prohibits the Dalbeys from making deceptive claims about the efficacy, benefits, price, or availability of products, programs, or services, along with barring them from using deceptive endorsements or failing to disclose restrictions regarding any products, programs, or services. Under the agreed-upon settlement, the Dalbeys must disclose their assets in sworn financial statements; repatriate all foreign assets; and cooperate fully as the FTC and the Colorado Attorney General’s office to determine how much of an agreed-upon $330 million judgment they can pay. The judgment will be suspended upon the defendants’ surrender of those assets. Please note the settlement does not guarantee the collection of any of the $330 million owed under the order. As a result, there are no guarantees that funds will be collected or that consumers will receive any payment resulting from the order. For additional information, please review the below Frequently Asked Questions (FAQ) pertaining to this case. Consumers who were customers of the Dalbey Education Institute or affiliated businesses should file their complaint information with our office at https://www.coloradoattorneygeneral.gov/complaintform. Existing complainants who wish to change or update their contact information should do so at https://www.coloradoattorneygeneral.gov/dalbeyinformationupdate. For additional information, you may also call our dedicated informational hotline at XXX-XXX-XXXX. To learn more about recent actions the Colorado Attorney General’s Office has taken against other companies engaged in deceptive trade practices, please visit http://www.coloradoattorneygeneral.gov/consumercases. Frequently Asked Questions: (FAQ)ReimbursementWill I receive any portion of the funds from the permanent injunction?When can I expect to receive funds?How much can I expect to receive?How will I be notified if money is recovered for payments to victims? Complaint InformationWhat if I have not filed a complaint or do not recall if I already submitted a complaint with the Colorado Attorney General’s Office?What do I do if I changed my name, have a change of address, or have a new telephone number or email address?Other General QuestionsDo I need to speak to an attorney or representative of the Colorado Attorney General’s Office?Am I still responsible for any remaining debt incurred from the Dalbey Education Institute or America’s Note Network?Do I need to maintain my records, payment history, bank statements, and other documentation associated with the program?Should I send in paperwork to your office now? Will I receive any portion of the funds from the permanent injunction? Per the terms of the order, the Dalbeys must disclose their assets in sworn financial statements; repatriate all foreign assets; and cooperate fully as the FTC and the Colorado Attorney General's office determine how much of an agreed-upon $330 million judgment they can pay. The judgment will be suspended upon the defendants' surrender of those assets. back to FAQ | top of pageWhen can I expect to receive funds?Per the terms of the order, the Dalbeys must disclose their assets in sworn financial statements and cooperate fully as the FTC and the Colorado Attorney General's office to determine how much of the judgment the Dalbeys can pay.As it is expected this process will take 12 months or more for completion, please continue to review our web site for case updates. Please note the settlement and permanent injunction does not guarantee the collection of any of the $330 million due under the order. As a result, there are no guarantees that funds will be collected or that customers will receive any financial redress from the order. back to FAQ | top of pageHow much can I expect to receive?If any amount of money is collected from the order, it is expected consumers will receive only a small, fractional amount of redress due to the nearly one million consumers involved in this case.back to FAQ | top of pageHow will I be notified if money is recovered for payments to victims? Through the investigation and subsequent settlement, the Dalbeys are required to provide the FTC and the Colorado Attorney General's office a complete Customer list. However, to ensure we have your current information on file, please visit www.coloradoattorneygeneral.gov/complaintform to properly file your information. In addition, our office will continue to update our web site at www.coloradoattorneygeneral.gov/dalbey with any new publically available information.back to FAQ | top of pageWhat if I have not filed a complaint or do not recall if I already submitted a complaint with the Colorado Attorney General’s Office?To ensure we are in receipt of your complaint information, please visit: www.coloradoattorneygeneral.gov/complaintform to properly file your complaint information.back to FAQ | top of pageWhat do I do if I changed my name, have a change of address, or have a new telephone number or email address?Any and all name, address, email, or telephone number changes can be submitted directly to our office at https://www.coloradoattorneygeneral.gov/dalbeyinformationupdate. back to FAQ | top of pageDo I need to speak to an attorney or representative of the Colorado Attorney General’s Office?No, it is not necessary to discuss your individual circumstance with the Colorado Attorney General’s office. In addition, staffing and available resources are limited. However, to ensure our office is aware of your specific circumstance, please file a formal complaint at: www.coloradoattorneygeneral.gov/complaintform.For case updates, please visit our web site at www.coloradoattorneygeneral.gov/dalbey for any new publically available information or call the informational hotline at XXX-XXX-XXXX as our office will post newly available public information when applicable.To ensure our office has your updated information including; name, address, telephone number, email, etc. please visit https://www.coloradoattorneygeneral.gov/dalbeyinformationupdate. back to FAQ | top of pageAm I still responsible for any remaining debt incurred from the Dalbey Education Institute or America’s Note Network?Yes, the permanent injunction order does not alleviate any debt incurred from your enrollment in the program. Please contact your lender or credit card provider directly to discuss the terms of any agreement you may have and to discuss your payment requirements under your specific loan or credit agreement.back to FAQ | top of pageDo I need to maintain my records, payment history, bank statements, and other documentation associated with the program?Yes, we recommend consumers keep all available documentation associated with their enrollment in the program. However, it is not necessary to send associated paperwork and documents at this time.back to FAQ | top of pageShould I send in paperwork to your office now?No, our office will contact complainants directly if additional information or paperwork is needed. As a result, we request no additional documents to be sent at this time. back to FAQ | top of page
Terry L. :

sounds like the states attorney has taken care of it.
follow up with them about making a claim for any funds received.

Terry L. :

It doesn't say what assets, if any were liquidated.

Terry L. :

You may still have a case against them as well, so you may want to consult a local attorney to bring suit as well, or if you prefer, just wait to see what the settlements are from the states attorney

Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,910
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Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

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