Goldman Sachs to repossess your dentures

Okay, I made that up – but it is in the realm of possibility

http://online.wsj.com/article/AP8b93af8c398640c7980679fdecc5b195.html

A year ago, AllCare Dental – a nationwide dental care chain (who I’m pretty sure advertised on radio) – suddenly closed its doors without warning when it was unable to get a “bridge” loan.

Patients apparently paid for procedures in advance with AllCare arranging financing using high interest rate credit cards.

At the time, patients were advised that in the case of a dental emergency they should dial 911.

AllCare Dental in the news again, because the company has filed Chapter 7 bankruptcy claiming to have no assets and $3.6 million in debts, leaving a gaping cavity that someone must fill.

Creditors have been told to show up at court so they can find out what kind of probe to expect and how the court will drill down through company financial records to get to the root of the issue. It is unlikely anyone will see any money and customers who prepaid will probably just get s legal brush off by the court once all the dental work has been straightened out.