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  1. #1
    Join Date
    Jul 2008
    Posts
    1

    Question TERI Filed for Bankruptcy

    My question involves collection proceedings in the State of: CA

    I am wondering if anyone knows how the fact that TERI filed for bankruptcy a few months ago affects the liklihood of them suing me if I enter into default on my numerous private loans with them.
    I am in CA, but I am not sure if it would be my state's SOL that governs the loans. Most of the TERI loans I have went through Chase - and are now being serviced by AES. Does any of that make a difference in terms of the liklihood that they will come after me? Since they were TERI loans but went through Chase, are they really Chase loans backed by Teri? Where does AES come in to play? I guess my question is - if they do sue me, who would it be -Chase, TERI or AES?
    We are talking over 100K here.

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    15,891

    Default Re: TERI Filed for Bankruptcy

    Nobody here can answer that. Whether or not they would sue is completely a matter of speculation.

    If you were sued, it would be by your current servicer.
    I'm not a lawyer, but I play a researcher on the internet!
    Caution: I bite. WARNING: Do not send questions or complaints by PM. I'm likely to post them publicly and embarrass you half to death.
    I'm training for the MS Society's Bike to the Bay - and blogging about it!

  3. #3
    Join Date
    Mar 2007
    Location
    Mile High City
    Posts
    13

    Wink Re: TERI Filed for Bankruptcy

    Yes they did for Chapter 11 BK. I know some BK law but not Chapter 11. Usually the debtor (TERI here) must get permission from the court to sue. I hope that is true. Especially since I filed an Adversary Proceeding against them in my local BK court. Whatever, it doesnt matter to me. I have other defenses as well. I think this is a good time to sue TERI over student loans since they may go bankrupt or be unable to respond. And you can argue why is the govt bailing out all these rich corps while ignoring the poor student borrower. In these uncertain economic times it is good to challenge these loans and help make this greedy corp (non-profit is just a legal ruse) go bankrupt. Sue them or deny their lawsuits against you. I will update.

  4. #4

    Default Re: TERI Filed for Bankruptcy

    Quote Quoting Justmy2cents
    View Post
    Yes they did for Chapter 11 BK. I know some BK law but not Chapter 11. Usually the debtor (TERI here) must get permission from the court to sue. I hope that is true. Especially since I filed an Adversary Proceeding against them in my local BK court. Whatever, it doesnt matter to me. I have other defenses as well. I think this is a good time to sue TERI over student loans since they may go bankrupt or be unable to respond. And you can argue why is the govt bailing out all these rich corps while ignoring the poor student borrower. In these uncertain economic times it is good to challenge these loans and help make this greedy corp (non-profit is just a legal ruse) go bankrupt. Sue them or deny their lawsuits against you. I will update.
    If you filed an adversary and they did not respond you should have filed for a default judgement, did you do that??? All it takes is for TERI to transfer the loan to defend.

    BTW, what BK court are you in?????

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