Category Archives: Bankruptcy

Sader Law Firm can help financially troubled individuals and businesses file for Chapter 7, 11 and 13 bankruptcy to erase and restructure debts.

Could the Coronavirus Pandemic Lead to More Bankruptcies?

Life is changing for billions of people across the globe as coronavirus (SARS-CoV-2) continues to spread. Here in the United States, there is uncertainty over how a possible shutdown could affect businesses and consumers. In Italy, where authorities are testing thousands of cases each day, most businesses are shut down. An “Italy-style shutdown” is underway in parts of the United States. California recently ordered its residents to stay indoors, with some exceptions. Depending on how the crisis unfolds, recent events could spark numerous personal and business bankruptcies. How Could the Coronavirus Pandemic Affect Families and Individuals? Medical debt is a factor in some bankruptcy cases. For people with chronic health conditions, or those who suffer a serious injury, they could face unaffordable medical bills. People in this situation are likely to have problems paying their other debts. The same could be true by the time the dust settles on the…
Read More »

Posted in Bankruptcy | Tagged , , , , , | Comments Off on Could the Coronavirus Pandemic Lead to More Bankruptcies?

Four Consequences of Waiting to File For Bankruptcy

Are you receiving frightening phone calls and letters from collection agencies? Are your wages being garnished? Have creditors threatened to seize your property? If this sounds familiar, then we recommend that you consider reaching out to a bankruptcy attorney for help. The old fashioned notion of a stigma around bankruptcy keeps people from reaching out to ask questions about their financial options. Many people misunderstand what happens to their credit, finances and personal opportunities if they file. By the time they reach out to file, they have already suffered many of the negatives associated with a bankruptcy.  Fortunately, by filing bankruptcy, one can begin to move forward. Bankruptcy is a way to protect credit and improve financial standing. Depending on your situation, waiting to file for bankruptcy can actually hurt you. Below, our Kansas City bankruptcy lawyers explain potential consequences of waiting to file. Loss of Property and Assets Creditors…
Read More »

Posted in Bankruptcy | Tagged , , | Leave a comment

6 Smart Ways to Spend Your Tax Refund in 2020

Tax season is nothing to be afraid of for some people. Although some of us may owe the IRS money this year, others may receive funds from a tax refund. Depending on the amount you receive, there could be multiple ways to spend your tax refund to bolster your finances. Tax refunds of over $1,000 are especially helpful, as you could use this extra money for multiple purposes. Consider the following actions if you receive a tax refund this year. Set Up a Savings AccountSave for Health ExpensesSave for CollegePay Off DebtsSave for RetirementInvest in Your Career 1. Set Up a Savings Account Life may decide to give you lemons at any moment. Job loss, illness, a death in the family, an injury, or a demotion are all reasons why you could suddenly need access to money. Unfortunately, 59 percent of Americans cannot cover a $1,000 emergency. Be like the…
Read More »

Posted in Bankruptcy | Tagged , , | Comments Off on 6 Smart Ways to Spend Your Tax Refund in 2020