- Joined
- Dec 21, 2017
- Messages
- 30
- Reaction score
- 5
Does anyone have a suggestion on how to handle settling with an FBO/Flight School after an aircraft leaseback incident - short summary - in Feb 2019 2 instructors leased my PA-32 for a flight - 30 seconds into flight 2 instructor pilots do a cross cockpit landing successfully - run off runway and have a prop strike - standard procedure after a prop strike is to send engine off and exam - after exam - it was determined that 44k worth of damage was incurred - insurance decided to only pay 26k - I decided that it was in best interest to do complete overall for 60k and return the 1100 aircraft to zero hour.
18 months later - I am back in the air; however after 90k worth of expenses , I am only receiving approximately 14k in cash after everyone else was paid along the line. While I am learning a lot after 2 years of ownership, something does not feel right -is there any assistance for an owner like myself to run a complete review of all of these expenses? Do I need an attorney? Do I need a brain exam? The term "Betterment" is a new 4 letter word in my book. Thanks so much for any insight.
18 months later - I am back in the air; however after 90k worth of expenses , I am only receiving approximately 14k in cash after everyone else was paid along the line. While I am learning a lot after 2 years of ownership, something does not feel right -is there any assistance for an owner like myself to run a complete review of all of these expenses? Do I need an attorney? Do I need a brain exam? The term "Betterment" is a new 4 letter word in my book. Thanks so much for any insight.
