Originally Posted by
rickair7777
Any such (unsecured) loan would be vapor in BK.
Giving such a "loan" would not likely prevent BK either way.
That's what I learned from industry history.
my opinion on this has changed, from first initially thinking an ALV reduction/ loan would be a good idea, then being had or lied to during the Sils/April rebid fiasco, bringing me to pay current opinion that any company help, should come AFTER sils at 55 hours and a early retirement package.
After that, maybe a ALV loan....if it was put in the full service bank on icrew, to be paid out say maybe 24 moths later, or upon retirement/ furlough...maybe even an installment bank pay out plan of an agreed period of equal to the months the reduced ALV was in effect. A loan interest rate of 5% put into the bank with each deposit...many variables...but again something that’s in our name, and not a promise to be erased by bankruptcy. And I know..the company administers the fsb.
The question is do you think they would steal that money, or is it even touchable in bankruptcy if it’s in the fsb under our name?
Again, only after Sils and Early Retirements!