God - I feel awful for you guys. I lost some money due to a very similar situation a few years ago in Syracuse. I really wish everyone luck in getting their boats/money/etc. back.

You all know that I bought my last Cigarette from Bill and Blume at National's South Florida store......I have to say that both of these guys were very good to deal with...they gave me a fair trade in allowance on my Top Gun...which thankfully....I owned outright......and on top of this they gave me a good deal on the Gladiator..I was their first Cigarette customer down here.....I did have some problems with the boat initially...but Cigarette took care of these....and although I did have some problems getting my phone calls returned at National....I realize that I was not their only customer....I am sorry to hear this as I like Bill and Blume both....In fact everyone that I met at the Florida store were very nice people......I am not trying to minimize the problems others are having right now....but rather talking about the people there in general....I hate to see this happen.......... Good intentions.........

I'll do the same...

This Is Just Another One Post Wonder Who Is Caught Up In This Mess I Bought A 38 Cig In March Traded A Nice Boat.traded Boat Never Been Pd Off Sold To Another Dealer Who Luckily Never Gave This Crook The Check Now I Have A Cig That Has Two Liens And One Driver Everybody Can Talk About Rumor When There Are Some Of Us Who Are Living It!hope Not To Many Others Have A 200000. Note And No Title After You Put 100000 Down

I bought my boat from NM three years ago. There were some very bad things going on then. I was able to get my boat deal done. There were some shady things going on that I have disscussed with people privately. This is a very bad situation that has been covered up for a long time. I hope that the people that have outstanding boat dealings get your deals done. Hopefully things can be brought out to the open now and people can get help.

Good Luck

David

Scott I don't want to rain on your parade but something to keep in mind. If there is a bankruptcy action (voluntary or involuntary) the court can reverse any transaction that took place for up to 60 days prior to the filing. IE the judge could make your bank give the money bank. I think that is slim in this case but I would feel better if it had been paid off 90 days ago.

PS this isn't ment to be a slam toward national or anyone else. just trying to educate people as to what can happen when these deals go south.

TO THOSE WHO NEED THE HELP.
I first will say that it is unfortunate for National that bad things are happening. I personally hate to see anything like this happen to a business who has made so many people happy with a hobby that we all enjoy. THAT BEING SAID: (Steve, please do not pull this, it could be a very valuable service to those on this board).

To those still responsible for an asset no longer in there custody, care, or possession, there is help.

Capital Solutions Industries (CSI) has an operations network across the country to assist Lenders in re-attaining assets that have fallen into the hands of those who may not have legal rights of possession and/or intentions to return said asset.

These services follow strict standards and all Federal, State, and Local Laws (i.e. no breaking and entering or leg breaking).

This is an efficient and legal means to attain an asset.

The reason I am posting is that as days go by I am confident we will all hear talk of things getting ugly and persons taking measures to get money or assets back. CSI can and will find a means of loss mitigation agreeable to Owner, Debtor and Law Enforcement agencies.

To submit a claim call 949-361-8776 or Fax information to 949-361-8795

In the meantime, lets all wish the best for those at National Marine and all others directly concerned.

Just got off the phone with Bob (Otis311) he is going to see a judge tomorrow to try and reclaim his boat. Off duty police at gate, nothing gets in or out. A class action lawsuit will be filed tomorrow on behalf of creditors. Bob says that FBI Has been there on several occasions and they are about to seize everything and arrest people. I don't post much especially about subjects with so much "he said, she said" but Bob is a close friend and the thought of what he is going through is sickening. Through no fault of his own, He will wind up with about 360k in loans and no boat to show for it. He may get his Harley back but he will be paying twice for it. No Top Gun ;but the loan; a Tiger possibly with no motors.... Hows that for rumors??

I feel absolutely awful for all those involved. I think IDR's post (unfortunately) may be valuable information for some.

Are banks and people that dumb? If I were to go buy a boat that required me to establish a bank loan, chances are the bank will have a lien on the property purchased. If there is a lien on the property, you cannot sell it until the lien holder is satisfied. Maybe just in Wisconsin ~~ but something smells bad with this whole deal.

Lets say the second owner pulled the motors and installed new motors and has receipts indicating that they were installed in that boat, how can the first owner reclaim property that is no longer his...or second owner painted it, added a trailer or it sunk and he claimed an insurance claim.

That brings up another point, second owner no doubt has an insurance policy on what he feels is 'his boat'.

GAWD, what a soap opera...