Starting a business is a difficult and trying endeavor. The American Bankruptcy Institute reported that over 24,000 businesses filed for bankruptcy in 2016. That is no surprise considering around 45 percent of companies do not make it to their fourth year of business. However, bankruptcy is not the end of a small businesses, and filing can actually have benefits. Here are some of signs that you may need to consider filing Chapter 11 bankruptcy for your business: You are Experiencing a Cash Flow Crisis If you are having a bad month or quarter, then you may be able to see the light at the end of the tunnel. There are ways to cut expenses to help create more cash flow. But if several clients are paying late, you are several payments behind with suppliers or facing creditor collection actions, then you may want to consider bankruptcy as a solution. Your…
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Roughly 800,000 homeowners still enrolled in the government’s Home Affordable Modification Program (HAMP), will see their mortgage interest rates gradually rise starting in 2014. Thirty percent of those who qualified for relief have defaulted again. Unfortunately, although home prices have increased over the last two years, household incomes have remained flat, and many homeowners still owe more on their mortgages than their homes are worth. We want you to know that you may have additional options. If you find yourself owing more on your mortgage than your house is worth, are under or unemployed, or facing foreclosure, bankruptcy may be the appropriate option for you. By filing for chapter 7 bankruptcy, you can let go of an underwater home and prevent the mortgage lender from trying to collect against you by discharging your debt. If you are enrolled in the HAMP program and in danger of defaulting or perhaps facing…
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We want to remind everyone that if you are struggling with debts such as credit cards, medical bills, or facing foreclosure, your tax refund may be the key to a fresh start. Many individuals, families and businesses may have decided that bankruptcy is in their best interest, but they have difficulty putting together the filing fees and attorney fees to file. Good news: tax refunds may be used to pay the filing fees and attorney fees for a Chapter 7 or Chapter 13 bankruptcy in Missouri and Kansas. By filing bankruptcy, you may be able to wipe out and eliminate your debt or save your home from foreclosure. Our experienced Kansas City bankruptcy attorneys provide initial free phone consultations, so people considering bankruptcy can make a decision on whether or not to file based on their specific situation. Fortunately, tax refunds may be used for filing a Chapter 7 or…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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