• January 22, 2020

    Will the Bankruptcy Law Change?

    Elizabeth Warren’s Proposals The last major reform to the bankruptcy code was in 2005.   With Elizabeth Warren now in the political limelight, she is calling for radical bankruptcy laws changes.  Will the bankruptcy law change soon? A look into the history of the 2005 law change and Elizabeth Warren’s proposal may shed some light […]

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  • January 16, 2020

    2005 Bankruptcy Reform Act Controversy

    The “Trojan Horse” 2005 Bankruptcy Reform Act is Creating Election Controversy  The 2005 Bankruptcy Reform Act is creating some controversy in the upcoming election.   A renewed feud over the validity of the act between democratic candidates Elizabeth Warren and Joe Biden appears to be building.   Was the 2005 law change truly a Trojan […]

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  • December 27, 2019

    Celadon Bankruptcy

    Celadon Bankruptcy: Worst-Case Chapter 11 Scenario The Celadon bankruptcy was close to a worst-case scenario for Chapter 11.  Things can always be worse of course, but this situation has most of the general “worst-case” aspects that a company can face in Chapter 11. Chapter 11 Celadon Worst Case Scenario: No Reorganization Chapter 11’s most appealing […]

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  • December 26, 2019

    Celadon Bankruptcy Filed in Delaware?

    Celadon is an Indianapolis-based company. The primary operations were in Indianapolis.  The employees were hit hardest in Indianapolis. Even their address on the bankruptcy petition is in Indianapolis.  Why then was Celadon’s Chapter 11 bankruptcy filing in Delaware? Celadon is a “Delaware” Corporation Companies frequently incorporate in Delaware to take advantage of Delaware’s generous law […]

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  • December 18, 2019

    Celadon Trucking – Indianapolis Bankruptcy News

    On Sunday, December 8, 2019, the well-known Indianapolis-based trucking company, Celadon, filed for Chapter 11 bankruptcy.  To make matters worse, the goal of this Chapter 11 case was not to reorganize the company. Instead, it was to allow Celadon to cease its operations immediately.  All Indianapolis-based operations completely grounded to a halt. Some drivers were […]

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  • February 13, 2019

    Valentine’s Day on a Budget

    Like most Americans, you may find yourself on a budget during the Valentine’s Day season. You either may not have the extra money to spend or you are being responsible by staying on your budget. Stay romantic and do not worry! Doing Valentine’s Day on a budget will make a memorable experience that will far […]

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  • December 19, 2018

    What Happens In Bankruptcy?

    What actually happens during bankruptcy is the release (or total forgiveness) of your debts. To get this release, you must provide some financial documents and official government paperwork to formally request that your debts be forgiven. After the full bankruptcy process is completed, you will receive a “discharge” that permanently eliminates your debt. Providing Paperwork […]

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  • December 13, 2018

    3 SIGNS THAT YOU NEED TO FILE FOR...

    What are clear signs that you need to file for bankruptcy? This question can be answered by in a few basic ways.  There are three basic signs that strongly indicate that bankruptcy is something that you may want to consider. Sign #1: Staying in the Same Place or Worse for Years Are your finances currently […]

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  • November 14, 2018

    Cause of Bankruptcy

    The Number One Cause of Bankruptcy: Lack of Financial Knowledge You can always trace back an immediate cause for bankruptcy. Ultimately, the number one cause of bankruptcy is lack of financial knowledge. Without adequate financial understanding, you can easily set up your life in a way that leads to bankruptcy. There are, however, three basic […]

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