Sader Law Firm Blog

Can I File Chapter 7 Bankruptcy Without an Attorney?

Posted on November 27, 2015 by The Sader Law Firm

If you have made the decision to file for Chapter 7 bankruptcy and believe you do not need an attorney, it will help to stick around and read this blog. Perhaps medical bills have piled up or credit card payments have become unpayable. Whatever the case may be, filing bankruptcy without an attorney is not only extremely time consuming, but very risky. Some people filing for Chapter 7 bankruptcy will have to take the means test, which requires careful attention to detail. The means test requires debtors to show various types of income such as salary, state disability insurance, property income, workers’ compensation and pension income. It also requires several deductions, such as health insurance, union fees and taxes. Attorneys have years of experience gathering paperwork for the means test while most of the general population does not. Chapter 7 bankruptcy has many rules. Some rules might be unknown to…
Read More »

How Student Loans Can Affect Retirement

Posted on November 25, 2015 by The Sader Law Firm

The bad news just never stops rolling in when it comes to the student loan crisis. New reports are giving more details on how higher education debt can negatively affect retirement savings. Researchers with the financial website NerdWallet are arguing 75 will become the new retirement age for debtors with $35,000 in loans who graduate at 23 years old. This is only assuming debtors are making the average starting salary of $45,000 a year and are saving 6 percent of expenses for retirement. NerdWallet analysts are arguing loan debtors can cut five years off their retirement age by living at home with Mom and Dad for two years after graduation. Graduates who live at home for two years can retire at 70 instead of 75 if they save 10 percent of expenses towards retirement. Lowering housing costs, such as finding roommates, can also help former students and graduates save for…
Read More »

Three Tips for Relieving Stress Caused By Debt

Posted on November 23, 2015 by The Sader Law Firm

People stuck in debt may face high levels of stress and uncertainty over the future. Last week, we discussed how debt affects physical health, contributing to heart disease, stroke and other harmful conditions. Health problems are expensive, and can lead to more debt. It is important to stay healthy and find ways to reduce stress. Exercise is very beneficial for beating stress and reclaiming your life. Why does it work? Exercise can release feel-good endorphins in the brain, such as serotonin and dopamine. These endorphins can improve your mood and reduce anxiety and depression. Exercise can also decrease the effects of cortisol, a hormone responsible for causing high levels of stress. Running, jogging, lifting weights, swimming, yoga and cycling can help ease stress caused by debt. Mindfulness and relaxation techniques are useful for avoiding the body’s “fight or flight” response caused by high levels of cortisol. Breathing techniques and meditation…
Read More »