Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

Student Loan Repayment Tips for After Graduation

Posted on May 17, 2019 by The Sader Law Firm
student loan repayment tips

Federal Student Loan Repayment Tips If you are graduating in May or June and have student loan debt, then you should have a repayment strategy in place. There are different rules for federal and private student loans, which means your strategy could vary depending on which types of higher education debt you carry. The Department of Education offers multiple repayment options that may keep you from falling behind on payments. Determine your Payment Amount and Make a Budget for Student Loan Repayment You should determine your payment amount and make a budget first. This will allow you to determine whether you could experience financial hardship in the near future. Work with your school’s financial aid office to determine how much you will owe and when you plan to finish making payments. Once you determine these factors, work them into a budget with your other expenses. Make sure that your monthly…
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Bankruptcy vs. Debt Settlement: Which Should I Choose?

Posted on May 6, 2019 by The Sader Law Firm
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Kansas City Bankruptcy Attorneys Explain Your Options Defaulting on debts can lead to multiple negative consequences. Your wages could be garnished. Creditors could repossess your secured debts. In other cases, you could enter a debt spiral that affects your finances for years to come. If you are experiencing a debt crisis, then you should explore options for resolving your situation as soon as possible. The longer you wait to resolve your debts, the longer it will take to get your finances back on track. Debt settlement and bankruptcy are two debt relief options you could consider. However, these are two very different options. You should consider the differences between bankruptcy and debt settlement before making your decision and very closely look at any and all fees Debt Settlement companies charge. What Is Debt Settlement? Debt settlement is where you hire a company to work with your creditor to pay less…
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Chapter 11 Bankruptcy Could Help Sears Survive

Posted on March 21, 2019 by The Sader Law Firm
Problems with Chapter 13 payments?

Sears was recently granted a $5.2 billion reorganization plan. Under the plan, Sears can continue operating 425 department stores. The plan also allows 45,000 workers to keep their jobs. Chairman Eddie Lampert entered Sears into Chapter 11 bankruptcy in October. Lampert’s bid fought opposition from several unsecured creditors, including mall suppliers and owners. These creditors tried to stop the sale and requested for liquidation of the company. U.S. Bankruptcy Judge Robert Drain for the Southern District of New York rejected the creditors’ claims. He disagreed that the sale would shut out other parties who wanted to purchase the company, and he rejected the idea that Sears has more value to creditors if it failed. Sears argued that the sale was the best solution, and they explained the need to save thousands of jobs. Although Sears’ long-term fate is murky, Chapter 11 bankruptcy will help provide the retailer a lifeline while…
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