Category Archives: Bankruptcy

Sader Law Firm can help financially troubled individuals and businesses file for Chapter 7, 11 and 13 bankruptcy to erase and restructure debts.

Neil Sader, Brad McCormack Recognized in 2023 Best Lawyers in America Guide

Sader Law Firm is pleased to announce that Managing Member Neil Sader and Member Brad McCormack were honored in the 2023 Best Lawyers in America, a leading U.S. News & World Report-sponsored peer review guide honoring attorneys. Sader and McCormack totaled three honors on behalf of the firm. Sader claimed honors for Litigation – Bankruptcy for a third straight year and Creditor Debtor Rights/Insolvency and Reorganization for a first time. McCormack was recognized for Creditor Debtor Rights/Insolvency and Reorganization. It’s his first Best Lawyers honor. 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 is based on peer review. Since 1984, Sader has…
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Fiction & Facts: What’s True and What’s Not About Bankruptcy

By JAMES N. BOYCE For a lot of people, bankruptcy is a dirty word. That’s because there’s a lot of misinformation and misconceptions about bankruptcy. Today, let’s go over some of the most common fictions and talk about the facts. Fiction: If I file bankruptcy, I will never buy a house or get a mortgage. Facts: Bankruptcy can actually help you qualify for a mortgage and buy a house. If you are having trouble saving for a down payment because you are paying your debts, bankruptcy can help you save and afford a mortgage payment. Two years after getting a Chapter 7 bankruptcy discharge you can qualify for government-backed mortgages such as FHA, VA, or USDA loans. You can also get a government-backed mortgage during a Chapter 13 bankruptcy after one year. FHA loans are great for first-time homebuyers as you can pay as little as 3.5% down and have…
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Student Loan Fight Continues

A recent Business Insider article paints an eerie picture of the stats of the student-loan bankruptcy process. Since the Biden administration has pledged to reform the process entirely, the Education Department is making the lives of borrowers difficult by shutting down requests in court. Senate Majority Leader Chuck Schumer has asked for a fair balance for everyone who declares bankruptcy. “It’s outrageous that other people get to declare bankruptcy, but students can’t,” Schumer said at a press conference in February. Aaron Ament, the president of Student Defense, is asking for new policies that put the interests of student borrowers first. “While we strongly welcome the Department’s commitment to change how it treats student loan borrowers in bankruptcy, in the meantime, it continues to oppose discharges for cancer patients, struggling grandparents and public school employees with serious medical issues,” Ament told the Insider. “We join Senator Schumer in calling for a…
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