CHARLES PAUL REINHOLD

CHARLES PAUL REINHOLD is currently employed as a Broker and/or Investment Adviser at AUSDAL FINANCIAL PARTNERS, INC. located at 5746 24 MILE RD., SHELBY TWP, MI, 48316.

CHARLES PAUL REINHOLD has worked at AUSDAL FINANCIAL PARTNERS, INC. since September 24, 2015

Disclosure History

CHARLES PAUL REINHOLD has 1 Disclosure Event(s).

Date: October 07, 2009
Category: Financial
Type: Bankruptcy
Disposition: Discharged
Broker Comment: ON 10/7/09,I FILED FOR PERSONAL BANKRUPTCY. THE NECESSITY OF ME HAVING TO TAKE THIS ACTION WAS NOT BASED ON ANY PERSONAL FINANCIAL DECISIONS I MAY HAVE MADE, BUT DUE TO MY PAST INVOLVEMENT WITH A FAMILY BUSINESS, AMERICAN FOODS COMPANY THAT FACED THE CHALLENGES OF THE RECESSION AND IS NOW IN RECEIVERSHIP IN MACOMB COUNTY, MI. WHILE I RESIGNED FROM THE FAMILY BUSINESS IN 2005 AND CONCENTRATED SOLELY ON MY OWN INVESTMENT AND FINANCIAL SERVICES BUSINESS, I, ALONG WITH CERTAIN OTHER FAMILY MEMBERS, STILL CONTINUED TO BE A PARTY TO SPECIFIC LOAN DOCUMENTS FOR THE BUSINESS. THESE LOANS ARE NOW THE CAUSE OF LITIGATION IN MACOMB COUNTY CIRCUIT COURT AND EACH OF THE OTHER FAMILY MEMBERS ALSO RESPONSIBLE FOR THE LOANS FILED BANKRUPTCY EARLIER THIS YEAR TO AVOID PERSONAL JUDGEMENTS. THEREFORE, THE ENTIRE JUDGEMENT WOULD HAVE FALLEN ON ME AND THE POTENTIAL FOR ME TO SURVIVE A JUDGEMENT OF THIS SIZE IS NONEXISTENT WITHOUT ALSO FILING FOR PERSONAL BANKRUPTCY. IT WAS NOT AN EASY DECISION AND ONE THAT I STRUGGLED WITH FOR A LONG TIME. THE MAJORITY OF THE DEBTS LISTED IN MY BANKRUPTCY SCHEDULES ARE BASED ON DEBTS DERIVED FROM AMERICAN FOODS AND NOT PERSONAL; HOWEVER WITH A BANKRUPTCY, ALL DEBTS MUST BE DISCLOSED REGARDLESS OF THEIR ORIGIN.

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