Tag Archives: debt reduction

Bankruptcy: Can I Get Rid of My Debt?

We are committed to providing valuable information to anyone seeking knowledge and understanding about getting rid of debts, bills and financial difficulties through bankruptcy. With that in mind, we are very excited to announce that new videos have arrived to the Sader Law Firm YouTube Page. It is amazing how empowering and relieved everyday people are once speak on the phone with our experienced Kansas City bankruptcy lawyers. We give you real and direct answers based on your specific situation. In our videos, Kansas City bankruptcy attorney Neil Sader and other members of our legal team explain speaking with an attorney, taking the first step towards getting rid of your debt, bankruptcy laws and more.

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How is Bankruptcy Different from Debt Settlement?

You have probably seen the television commercials: Debt settlement or consolidation firms promising to solve your debt problems for pennies on the dollar. Unfortunately, for most consumers, the end result does not match the promises made. At The Sader Law Firm in Kansas City, Missouri, we assist individuals, couples and businesses solve their debt problems and look forward to a brighter financial future. Before you spend hundreds or thousands of dollars on a debt settlement or consolidation program, contact us for a free initial consultation to explain your bankruptcy options. How Does Debt Settlement or Consolidation Work? With typical debt settlement programs, you make payments to the debt settlement company instead of your creditor. After you have paid the company a required amount, it will negotiate with your creditors. Unfortunately, your creditors aren’t required to negotiate with the debt settlement company and many refuse to do so. Your creditors are…
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Consolidation Loan Pitfalls

Some interesting new research from the National Endowment for Financial Education has surfaced regarding debt consolidation loans. Research highlights that debt restructuring often leaves a consumer with a greater overall debt burden to the length of time and interest rate of the new loan. Highlights from the new research: NEFE says, a five-year loan for $20,000 at a 10% interest rate would cost about $425 a month and total interest payments of $5,496 for the life of the loan. Extending the debt to 15 years in a consolidation loan would knock down the monthly payment to $215, but it would increase the total interest payments to $18,685 b a fact that is conveniently left out of most debt consolidation advertisements. “Typical ads tell consumers that the monthly payments will be low and that their debt will be reduced, and although the ads sometimes tout lower interest rates, most people who…
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