Reflections on GTM over the years

mikey1600

I believe they got the money from Sam's bank, it took 3 attempts though in the space of 2 weeks.

I think if it declined 1 more time they were going to credit me the money and take on the debt collection themselves.

DEpointfive0

Since he filed so long ago without telling anyone... We can infer, especially with the pic critical posted that Sam is going to try to dig himself out of this big *** hole...

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1slow370

Considering there are still people getting money back even after the filing it looks like he is trying to keep it alive, explains why everything is going so slow though.

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Neo187H

From the few comments on this thread it looks like the only people that have gotten their money back has been through credit card charge backs handled by the customer, not something that GTM voluntarily did. I myself am still waiting as well as many others.

LIL_G13

I got a refund in the way of parts. I drove 6 times down to there location (8hr round trip drive) but after seeing all this and them filling chapter 11 it was worth the drive. Good luck to all that are still waiting on refunds.

pokeyl

Chapter 11 is not going to work for GTM, to small. It should end up converted to ch 7 during review. I can get all the aluminum brackets made if someone needs a part. It will cost but any good fab shop can make copies.

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09nismo498

Wow, looks like they still owe over $300k on that pipe bender too... like phunk said, love or hate the guy, its sad. Just hope everything comes out positively for everyone that has money tied up with them.

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Cell

Z eliminator has 30k tied up. I feel sorry for him.

Z eliminator

Can some body tell me . is he still open for business, are his door closed, are there any letters posted on the inside of his doors saying that landlord has locked his doors?
i just looked at this post this morning.
tell me its not true.

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12.343 @114.14 . 4.5 stroker motor is now being built. Dec 1 2015.

Ill

Talked to him as well as Pablo yesterday. Still open

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DEpointfive0

They're still open.



I don't think anyone really understands how bankruptcy works... (Not talking specifically to you Z eliminator). Anyways, filing for bankruptcy is a way for you to "restructure your debt". Honestly what it is, is protection from your stuff getting repo'd, AND you don't have to make payments on it (you should, but no one is gonna stop you). The disadvantage is that your credit goes to non existent. You need a loan to buy more turbos? No. Need to use your credit card? Ehhhhhhh... Good luck.
Now, speaking as a camel jockey (Sam is one too)... He'll probably let this business tank so he doesn't have to repay any of his debts, and start a new one IMMEDIATELY under some other families name and the GTM storefront we see will never close...

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nomodsjk

Its a damn shame because they have some of the best mods for our cars. Just sux all the way around. My biggest question is how in the hell could they go under with all those people ordering so many high end packages from them?? I mean they had like over 100 people order their TT set up not to mention people like z eliminator who dropped 30k in one build. How in the hell could they be going under with all this work they have?? It doesn't make sense to me

nomodsjk

And what happens to the thousands of people who have their products when they need something replaced?? Are they going to be able to get their stuff fixed or replaced?? I guess they will have to wait for somebody to sell the used part they need??? Somebody please say it ain't so

Chuck33079

Luckily there aren't a whole lot of parts that were made by GTM on their turbo kits. They mainly supplied plumbing. The manifolds are the issue since they're prone to cracking. Most of the other parts can be bought from their manufacturer.

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Z eliminator

at that point what happens to the goods . eg my engine, cams, and all the other parts ?
do they get sold off ? or does he complete the work ?

Z

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12.343 @114.14 . 4.5 stroker motor is now being built. Dec 1 2015.