Lawyers who represent dealers told me that their phones, BlackBerrys and even their old-fashioned fax machines have been ringing nonstop since General Motors dealers started receiving the letter.
But that doesn't mean there will be a slew of lawsuits, at least not yet.
"This isn't the time to be filing lawsuits," said Dan Myers. Myers and his wife, Loula Fuller, are founding partners of the Tallahassee, Fla., law firm Myers & Fuller.
Myers told me that because every dealer's situation is different, each one needs to put in place specific protections that suit his or her situation.
The letter is ambiguous about what's going to happen, which makes Myers think the automaker really doesn't know whether it will file for Chapter 11.
Fuller told me dealers need to be patient. They need to wait to see whether GM files for Chapter 11. If GM does seek court protection, she said, dealers should be prepared to articulate their claims early in the process. If enough dealers do so, they might get a seat on the creditors committee.
"If GM doesn't go into 11, dealers should be prepared to file a lawsuit in federal court," Fuller said.
Birmingham, Ala., lawyer Doug Fox, who represents an Alabama Chevy dealership that already has sued GM, was blunt: "No dealer should trust what GM says, especially about the wind-down."
Fox doesn't believe that either the Chrysler or the GM situation will be over anytime soon. Fox, with the law firm Haskell Slaughter Young & Rediker, said he's convinced that when the full extent of the economic damage caused by whacking so many dealerships is realized, the Obama administration's automotive task force will demand to know what went wrong.
"Chrysler and GM will have a lot to account for," Fox said. "And when they can't, that's when the government will need to revisit it."