A question that often comes up when we speak with clients is how to tackle student loans when it comes to bankruptcy. Oftentimes, a young family is swimming in debt, a significant amount of which is in the form of student loans. A recent article in on CNN Money brought to light just how dire the student loan situation has become. According to the article, the average student loan debt of a person who graduated in May 2013 was $35,200. For many, this debt is manageable until they get married and now have two combined student loan payments, plus a mortgage, plus medical bills, etc. Student loans have their own set of requirements when it comes to bankruptcy. Loan companies are not going to easily forgive the debt of student loans. Below, you will find a few things to consider when trying to recover from the mounting debt of college…
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PRESS RELEASE FOR IMMEDIATE PUBLICATION No Up Front Attorney Fee Chapter 13 For Those Impacted By The Shut-Down The Sader Law Firm in Kansas City has announced it is offering to file, for those directly affected by the Federal Government Shut-Down, Chapter 13 bankruptcy cases for $0 in up front attorney fees! Efforts will also be made to get court fees etc. waived. Neil S. Sader, Managing Member of the Firm, is making the offer to those in Missouri and Kansas who are impacted. Sader said, “The Shut-Down means thousands of people and families in our area may not be able to make mortgage payments, car payments, loan payments etc. The thought of those folks losing their homes or cars due to the Shut-Down is unreal. We want to be of help if we can.” The offer applies to those in the Kansas City area directly impacted as federal employees,…
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Bankruptcy can be a frightening prospect for many individuals. However, if you are struggling with debt and can’t get ahead, no matter what you do, it may be time to consider the option. The Chapter 7 option allows you to discharge your debts altogether, giving you a clean slate. But is this option a good fit for you? The Means Test The first step in the process is to go through a means test to determine if you are capable of paying back at least some of your debts. The first thing an attorney will look at is whether you make below the median income for your area and household size. If you are below this income level, you automatically qualify. Otherwise, the attorney will look at how much income you have left after paying your allowable bills to determine if you have the disposable income to pay some of…
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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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