Contrary to popular belief, it is possible to rebuild your credit rapidly after the filing of a Bankruptcy Case. Yes, some restrictions such as restrictions on Mortgage applications will apply. But, the good that will come from receiving a discharge via a Chapter 7 or Chapter 13 Bankruptcy case will far outweigh the bad. A […]
About Michael Ardelean
Are Bankruptcy Filings actually good for the Economy?
It is a long accepted idea that filing of bankruptcy cases by debtors across the county would be considered bad for the nation economy. The notion being that if a Debtor in bankruptcy is getting rid of the debt, that a creditor out there is losing out on that payment. We must examine several issues […]
Bring Your Folding Chairs to Bankruptcy Court
In an effort to update and replace furniture in room 315 of the Eastern District of MI Bankruptcy Court, the United States Trustee has removed almost all of the furniture in the waiting areas, conference rooms and Trustee meeting rooms. This would be no issue, except for the fact that the replacement furniture will not […]
Radio Shack Files Chapter 11 Bankruptcy
The long standing electronics store, Radio Shack, has filed for Chapter 11 Bankruptcy. The company will close over 986 stores across the country as a result of this bankruptcy filing. Radio shack was founded in 1921 as a seller of electronics and is now selling off stores to General Wireless. “Long-running electronics company RadioShack, which […]
Bankruptcy Trustee Seeks to recover $1 Million in Attorney Fees
The assigned Trustee for the Northern Berkshire Health Care Bankruptcy case seeks to recover over $1 Million in attorney fees for the liquidation of assets of the estate. Although over $10 Million was collected in this case, there were over $35 million in secured debts. It begs the question of what parties are ultimately benefiting […]
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