Sader Law Firm Blog - Kansas City Bankruptcy Attorney Blog

IRS Free File Available Until October 15

Posted on October 12, 2020 by The Sader Law Firm
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We have good news if you still have to file taxes for 2019. If you meet the necessary eligibility requirements, you can still file your taxes for free until October 15.  The IRS partners with multiple tax filing services that offer free filing options. Free file services that are partnered with the IRS were enormously popular in 2020. In fact, usage of free filing services increased by 50% since 2019. Below, we discuss what to know about the services and their various eligibility requirements.  IRS Free File Eligibility If you made $69,000 or less in 2019, then you can visit the IRS’ website to choose from one of the various free filing services. TurboTax, TaxSlayer and H&R Block are some of the more well-known free file services currently partnered with the IRS. Many services are available in English and Spanish. You can receive a more comprehensive list by clicking this…
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Student Loan Relief

Posted on July 15, 2020 by The Sader Law Firm

The sad reality for most of my student loan clients is they have large federal and private student loan balances.  In many cases they also have co-signors, usually a parent or relative, who will be on the hook if the main borrower defaults.  Federal loans can be consolidated and placed in affordable repayment plans, but private loans are usually another story.  That said, there are options for dealing with private loans, even if you are in default. (1) Check your Statute of Limitations period (“SOL”).  All states have SOL deadlines for creditors to file collection lawsuits.  If the SOL has expired on a private student loan, the creditor is out of time to sue and obtain a judgment unless you make a voluntary payment to extend the SOL period (federal student loans do not have an SOL).  If sued after the SOL has passed, you still need to raise the…
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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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