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October 2015 Archives

Bankruptcy can put new capital and life into an insolvent company

In some business bankruptcies in Pennsylvania and other jurisdictions, the bankrupt entity will end up being sold at an auction to the highest bidder. That recently happened to a well-known military school in a nearby state that counts Donald Trump and other notable people in its list of graduates. A drastic decline in enrollment was mentioned as the reason for the school's closing and filing of bankruptcy this year.

Personal bankruptcy is not a bar to a career in public service

Both in Pennsylvania and throughout the country, people who have been through a bankruptcy are becoming more accepted in public service professions, such as serving in a legislative body or otherwise holding public office. Some of them even champion fiscally conservative platforms. Increasingly, they are freely sharing their struggle and bankruptcy filing as being a valuable learning experience.

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