Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

Business Bankruptcies Caused By the Coronavirus Pandemic

Posted on July 10, 2020 by The Sader Law Firm
Chapter 11 bankruptcy form

The novel coronavirus continues to spread across the United States. Although shutdowns are not in effect nationwide, many companies are seeing a drop in regular business. Some of these companies recently filed for Chapter 11 bankruptcy. Although individuals can file under this Chapter, Chapter 11 cases are often called business bankruptcies. CEC Entertainment, the parent company of Chuck E. Cheese, recently filed for Chapter 11 bankruptcy. The company also owns Peter Piper Pizza, a separate pizza chain with locations on the West Coast and across the Southwest United States.  Other well-known companies are feeling significant financial pressure due to the pandemic. GNC, a nationwide chain that sells health products and nutritional supplements, is also filing for Chapter 11 bankruptcy. The company said it plans to close more than 1,200 of its stores.  Other large companies sought bankruptcy protection over the past several months. JCPenney, 24-Hour Fitness, Hertz, Gold’s Gym, J….
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Michael J. Wambolt Certified in Consumer Bankruptcy Law

Posted on April 23, 2020 by The Sader Law Firm
Attorney Michael J. Wambolt

The American Board of Certification announced that Michael J. Wambolt, attorney with the The Sader Law Firm, in Kansas City, Missouri has successfully completed the requirements for national certification in Consumer Bankruptcy Law. To become certified, Mr. Wambolt, satisfied the following requirements: Full time practice of law for at least five years; Good standing in the bars of all states in where a license to practice law is held; Devoted at least 30% of practice time and at least 400 hours to bankruptcy related matters in the last three years; Documented involvement in consumer bankruptcy by providing information on cases practiced; Demonstrated commitment to continuing legal education by earning at least 60 hours of bankruptcy education in the past three years. Passed an extensive, day-long written examination covering consumer bankruptcy issues. The American Board of Certification (ABC) is a non-profit organization dedicated to serving the public and improving the quality…
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How to Cover Student Loan Payments After Losing Your Job

Posted on April 20, 2020 by The Sader Law Firm
Picture of calculating Student Loan

Americans are facing the most dire financial situation since the opening days of the Great Recession in 2008. In fact, Goldman Sachs suggested that unemployment claims hit more than 2 million in a short period of time. Treasury Secretary Steven Mnuchin ominously warned that the U.S. could experience a 20 percent unemployment rate. Mnuchin clarified that this scenario could occur without intervention, but later walked back his statements. Widespread layoffs have many people with student loans worried about making payments. Fortunately, President Trump suspended payments for federal student loans on Friday. The freeze is in place for 60 days, but could be extended. You can reach out to your loan servicer to take advantage of this change of events. The economic impact of the coronavirus pandemic could last for many months. Some people affected by the crisis may be unable to find work for a long time. If you recently…
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