Entries by Michael H. Raichelson

Relieve Your Stress About Bankruptcy

Next to debt, filing for bankruptcy can cause equal anxiety and fear. Even so, the idea that you have a possible solution gives you an amount of hope. First things first Like a medical diagnosis, another opinion can help. Talking with an attorney can relieve some of your stress related to bankruptcy. A legal professional […]

Detroit Files Largest Municipal Bankruptcy Ever!

After the state of Michigan appointed an emergency financial manager, Kevyn Orr, to resolve the financial crisis of the city of Detroit without filing bankruptcy, Governor Rick Snyder approved the filing of the Chapter 9 bankruptcy petition for the city of Detroit on July 18. As of now, Detroit has $20 billion in long-term debt […]

Dolce and Gabbana Sentenced to Jail for Tax Evasion

Famous fashion designer Domenico Dolce and Stefano Gabbana were handed a suspended prison sentence of one year and eight months for hiding over one billion Euros, according the media. This order was given by the Milan, Italy court.  Dolce and Gabbana were initially investigated in 2008 for selling their brand to Luxembourg-based holding company Gado […]

California Homeowners Bill of Rights

Prior to 2013, many homeowners faced uncharted waters when it came to foreclosure.  While most of those problems still persist, to ensure fair lending and borrowing practices for homeowners, California passed the California Homeowners Bill of Rights, which guarantees fairness and transprency for homeowners in the foreclosure process.  Below are a portion of the new […]

Bankruptcy Meeting of Creditors

Once you file a Chapter 7 or Chapter 13 bankruptcy you are given a 341(a) meeting of creditors hearing date. This date is very important! It is not an actual court hearing where you go into a courtroom and a judge sees you. The meeting of creditors is also not a room filled with all […]


Stopping a Foreclosure – The Automatic Stay

Clients facing foreclosure or repossession need immediate relief to stop the foreclosure or repossession.  When you file a Chapter 7 or 13 bankruptcy, the automatic stay is triggered.  This is the immediate relief that is needed in that the automatic stay stop most creditors from continuing with collection activities, such as filing or continuing lawsuits, […]