I purchased a bond from DBSI Inc. The bond says it is securitized but I ...

Suggestion by 72.76.147.209 on 2008-11-30 04:45:19

I purchased a bond from DBSI Inc. The bond says it is securitized but I don't know in what. DBSI has now filed chapter 11. Do I stand a chance in getting any of my money back. The bond was due to be called September 30, 2008 and they stalled repaying me then filed Chapter 11 in Nov. 08. The bond is part of an IRA. I can be reached at elanadabkowski@hotmail.com. Also I filed a claim with the Bankrupcy court in Delaware that is handling the matter. Any help would be greatly appreciated.

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I am not an expert in bankruptcy law, but I believe that the company can stall debt payments if they file a chapter 11. You may not lose all of your money (or any of it) but your class of debt could pay out less than what it was due. There are other creditors who hold the same class of debt and you should stick with what they do. The fact that it is securitized is certainly a relief, since securitized debt is usually backed by an additional asset.

Walim 21:56, November 29, 2008 (PST)

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