Frequently Asked Questions
- What does the Trustee do?
- Where is the money that we invested?
- Is Master Lending Group, LLC still operating?
- Can I get my money back?
- What Documents do I need to submit to the Trustee?
- How long will this take?
- Who pays for the costs of the bankruptcy case and its professionals?
- How Do I Communicate With The Trustee?
- What do I do if I am an investor and would like to report what happened to me?
- Do I need a lawyer?
- How do I change my address on my Proof of Claim?
- What does the Trustee do?
The federal bankruptcy court where Master Lending Group, LLC filed this bankruptcy case appointed Tiffany E. Caron as the Chapter 7 Trustee. The Trustee’s job is to find all the money and other assets that Master Lending Group, LLC has and liquidate those assets for the benefit of creditors.
Top - Where is the money that we invested?
The trustee is trying to identify how much money is left and how much has already been spent by Master Lending Group, LLC or related persons or entitles. All money and other assets that the trustee finds will be safeguarded in a secure account.
Top - Is Master Lending Group, LLC still operating?
No, the business is closed by order of the court.
Top - Can I get my money back?
At this time, it is unknown how much each investor will be able to be paid back. The Court has sent out a Notice to creditors to file Proofs of Claim in the bankruptcy case. You can file a claim here.
IT IS IMPORTANT THAT YOU SAVE ALL DOCUMENTS, RECEIPTS, AND OTHER PAPERWORK YOU HAVE RELATED TO MASTER LENDING GROUP, LLC. Funds collected by the trustee will be distributed to creditors and investors in the priority set forth in the bankruptcy code. However, it is important to understand that this process could take a few years, and it is unlikely that every investor will be paid back in full.
Top - What Documents do I need to submit to the Trustee?
You will need to attach documentation to the claim form you file with the bankruptcy court. Documentation can include, but is not limited to, a copy of your Loan Agreement(s), canceled checks (with routing and account numbers redacted), and/or a register of payments and receipts.
Top - How long will this take?
It is hard to tell at this time, because it depends on many factors including how difficult it is to identify assets and how difficult it is to identify investors. However, it will most likely take more than a year.
Top - Who pays for the costs of the bankruptcy case and its professionals?
All expenses of the estate are paid out of the assets that the trustee collects. The trustee’s goal is to spend time and money wisely. Payments made to the trustee, her lawyers, and her consultants must be approved by the Court. The fees are based upon the commission established by the bankruptcy code and the standard hourly rates of all professionals involved. There will also be other operating expenses associated with the bankruptcy and costs associated with recovering and liquidating the assets.
Top - How Do I Communicate With The Trustee?
The best way to communicate with the trustee with specific questions is by email. Please send your questions to the trustee at [email protected]. There are many creditors and in an effort to avoid unnecessary administrative costs, we request that you please refrain from calling the trustee of the estate and professionals for routine updates. We make every effort to keep the web site current. You should also understand that given the nature of this proceeding, it may not be possible for the Trustee to disclose on a “real time” basis all of the information obtained as being sought during the investigation.
One way that investors can have a positive impact on the level of expense is to review the Trustee’s web site and the docket for general information. Answering telephone calls of individual creditors takes a lot of time, which results in expense to the estate.
Top - What do I do if I am an investor and would like to report what happened to me?
The trustee would appreciate any information you have about your investments with Master Lending Group, LLC. Please email [email protected] or call (404) 647-4917.
Top - Do I need a lawyer?
The trustee cannot provide you with legal advice. The trustee is not your lawyer. If you would like to speak to an attorney, you may hire one on your own, but you are not required to do so. Each investor needs to make this determination based upon his or her individual circumstance. It is important to remember that the Trustee is an officer of the Court, and part of her job is to try to manage assets and effect recoveries with the ultimate goal of making a distribution to investors and other creditors. Investors should feel free to employ an attorney, but, based on our experience in other cases like this one; it is unlikely that having an attorney will effect either the timing or amount of a distribution from the Bankruptcy Estate.
Top - How do I change my address on my Proof of Claim?
Complete the Proof of Claim Address Change form found below and mail it to:
U.S. Bankruptcy Court
124 Barnard Street, Second Floor
Savannah, GA 31401
Proof of Claim Address Change Form
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