Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

It has been roughly a decade since the end of the most recent recession in the United States, as determined by the National Bureau of Economic Research. Currently, consumer income and spending remain on solid ground with personal and disposable income continuing to grow on a slow upward trend. Still, the threat of a recession looms on the minds of many consumers. Current political issues contribute to their concerns about the economy. In the event of recession, are you prepared to financially withstand the impact? Should You Prepare for the Potential Risk of a Recession? This is the question that many are asking as they assess their financial futures. During a recession, it is important to minimize any potential financial risks. However, doing this can also have an impact on your current investment strategy, and potentially reduce financial growth. A fine balance exists between overreaction and preparing for the seemingly…
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Bankruptcy is an extremely helpful option for people who are suffering from the effects of difficult financial situations and creditor collection actions. By filing for Chapter 7 or Chapter 13 bankruptcy, you can discharge debts while protecting your most important assets.  Chapter 13 bankruptcy sets up a payment plan to repay your debts while allowing you to keep your property. With Chapter 7 bankruptcy, you discharge your debts and use exemptions to protect your assets.  However, there are certain types of debts that are non-dischargeable. If you have non-dischargeable debts, then you should still consider filing for bankruptcy. By discharging your other debts, you can free up funds to pay back your non-dischargeable debts.  Child Support,  Alimony and Property Settlements in Bankruptcy You cannot discharge past due child support or alimony. This means that you cannot discharge family/domestic support obligations in Chapter 7, Chapter 13 or Chapter 11 bankruptcy. There…
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