Category Archives: Uncategorized

General information about bankruptcy and debts matters from attorneys for Kansas, Missouri and national bankruptcy cases.

Navient Announces Plan to Exit Student Loan Servicing Market

Navient Corporation recently announced to shareholders plans to end its current student loan servicing business following a number of scandals and government lawsuits. The one-time leader in the market plans to transfer millions of student loan borrower accounts to the Missouri Higher Education Loan Authority (MOHELA). In 2014, Navient was the largest student loan company in the world, managing more than 12 million accounts of student loan borrowers. The organization has since faced numerous consumer protection lawsuits from state and federal regulators and continues to defend itself against allegations of cheating millions of customers out of their rights to affordable loan payments. Despite exiting the market, the company still collects on roughly $40 billion in government-regulated loans, which originated under a federal student loan program and $17 billion in private education loans. The organization has a track record of scandal and alleged abuse, including attorneys general of six states suing…
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Best Lawyers in America honors 5 Sader Law Firm attorneys with recognitions in 2024 guide

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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With student loan cancellation hitting major roadblock, bankruptcy still provides option for relief of other existing consumer debt

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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