Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

Best Lawyers in America honors 5 Sader Law Firm attorneys with recognitions in 2024 guide

Posted on August 17, 2023 by Sader Law Firm

Sader Law Firm is pleased to announce five attorneys earned distinction as top Kansas City bankruptcy practitioners in the 2024 Best Lawyers in America guide, a top peer-reviewed publication that honors accomplished attorneys. Managing Member Neil Sader and Member Brad McCormack brought in four total honors, recognized in two practice areas each:  Litigation – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization. Additionally, Sader attorneys Stephen Krogmeier, Steven Long and Christian Taylor were all recognized in Best Lawyers: Ones to Watch for Litigation – Bankruptcy. Taylor also earned distinction in Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law. Best Lawyers’ methodology is “designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area.” A person receives recognition from Best Lawyers for his or her talent in the legal industry within specific practice areas, and all recognition…
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Did you really need that extra credit card anyway?

Posted on August 15, 2023 by Sader Law Firm

Americans looking to borrow in 2023 could face more difficulty than in previous years, Yahoo Finance reports. Approval for almost all forms of borrowing, from car payment loans to credit cards, can be a battle in the current economic environment. The New York Federal Reserve recently published a study that shows that rejection for credit card applications has risen to 21.8% in June 2023. This is the highest rejection rate in five years, and this has been shown to have an effect on every demographic, but especially people with credit scores below 680. In addition to high rejection rates, the Federal Reserve System has been hiking interest rates to hopefully combat the ongoing inflation in the U.S. These high interest rates are intended to deter people from borrowing money through loans, credit cards and more. This year has undoubtedly been tough for Americans. High interest rates paired with stricter acceptance…
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With student loan cancellation hitting major roadblock, bankruptcy still provides option for relief of other existing consumer debt

Posted on August 9, 2023 by Sader Law Firm

President Biden’s student loan forgiveness plan aimed to help alleviate around $400 billion of student debt, but last June, the Supreme Court struck down the measure with a 6-3 vote. Now, more than 40 million Americans will likely be left to resume loan payments at some point this fall. Deferments and forbearances provided what now looks like temporary relief, and individuals hoping to have up to $20,000 in student loan debt forgiven may have been busy accumulating debt elsewhere. According to the American Bankruptcy Institute, credit card debt is set to surpass $1 trillion in 2023. The average American household owes $10,000 in credit card debt and 46% of credit card holders carry debt every month. Coupled with rent or mortgage payments and the pending resumption of student loan payments, many individuals will be facing budget concerns. While most student loan debt proves difficult to discharge in a normal bankruptcy…
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