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I have a floor plan with Nextgear capital I couldnt keep…

Customer Question
I have a floor plan...
I have a floor plan with Nextgear capital
I couldnt keep up with the monthly payment because i was not fixing the cars fast enought
and i didnt have a way to finance those cars for people who wanted to buy them
on the oder hand they keep harassing me to put all my floor plan cars in one spot
that made my business hard to proceed
I am looking for advise and where to fund a "good" lawyer beacuse they are suing my dealership
Submitted: 2 years ago.Category: Business Law
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Answered in 5 minutes by:
6/18/2015
Business Lawyer: Law Educator, Esq., Attorney replied 2 years ago
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 124,400
Experience: All corporate law, including non-profits and charitable fraternal organizations.
Verified
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Are you asking where to find a good lawyer or how to pay for one?
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Customer reply replied 2 years ago

i need to talk to a adviser- lawyer that knows about floorplan on cars for used car dealers

Business Lawyer: Law Educator, Esq., Attorney replied 2 years ago
Thank you for your reply. I do know about floorplans and actually have a car dealer as client.However, your question was not clear as to what you were seeking from us, because our site informs customers in their terms of service that we cannot represent anyone from this site, it is forbidden by state law. You asked "where to fund a good lawyer" which is why I asked you what you were seeking or asking
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Customer reply replied 2 years ago

in ATLANTA GA

Did you ever help a used car dealer about Defaulting on a FLoorplan

Can you call me at(###) ###-####/p>

Business Lawyer: Law Educator, Esq., Attorney replied 2 years ago
I am sorry, but making phone calls can constitute the practice of law and is against the law for us to do from this site.

If you need representation to assist you in either defaulting or restructuring your floorplan, I am afraid you need to engage a local attorney, which you can find at the same sites used by other attorneys, http://www.hg.org or http://www.lexmundi.com
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Customer reply replied 2 years ago

I want to give them back all the cars

after they sale them ; i may still owe them a balance;

advise me about filling for bancrupty

advise me how to proceed

I am willing to sell those car one at a time---get the title from them after i send them the payoff and so on

Business Lawyer: Law Educator, Esq., Attorney replied 2 years ago
Thank you for your reply.

They do not have to take the cars back if they do not wish to do so, that is entirely up to you negotiating with them and working out a deal.

If they refuse to negotiate with you, then bankruptcy is an option. You can file for a "reorganization bankruptcy," which is Chapter 11. This is where they collect all of your debts and assets and seek to reorganize the debts you have and the trustee in the bankruptcy will seek to reorganize your debts and put you on a payment plan to make it so you can afford to pay them off. You will need a local attorney to represent you in the bankruptcy, but they can get the debts renegotiated and the company will have to take payments set by the trustee and the bankruptcy court. This would be a way you could keep selling the cars and pay off your debt to the lender.
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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 124,400
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Experience: All corporate law, including non-profits and charitable fraternal organizations.

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