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.

What Are the Advantages of Filing for Bankruptcy?

Are creditors harassing you day and night? Are you losing sleep worrying about paying your mortgage or car loan? When your debt has spiraled out of control, it may be difficult to know where to turn for help. Fortunately, for Kansas City individuals and businesses, there may be a solution. Bankruptcy is an option that provides debt relief while giving you the tools you need to rebuild your future.  Is Bankruptcy Right for You? Bankruptcy may be the best choice in many situations. If any of these apply to your situation, it may be time to consider filing for bankruptcy. Lawsuits filed against youYou receive collection letters or harassing phone calls from creditorsYou open new credit cards to pay off old credit cardsYou only make minimum payments on debtYour home is in foreclosure or about to be in foreclosurePast due income tax problems High unpaid medical bills Financial problems caused…
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Why Waiting to File for Bankruptcy Can Be a Mistake

There are a number of reasons why people may need to file for bankruptcy. Medical bills, divorce, job loss, significant loss of income and unaffordable debts are common reasons. However, many people have the wrong idea about bankruptcy. Some people who may benefit from bankruptcy protections may wait to file for the wrong reasons. It is a common belief that you lose all of your assets in bankruptcy. Another common belief is that bankruptcy permanently affects your credit. These common misconceptions can be responsible for making a difficult financial situation even worse. Bankruptcy is not for people with nothing to lose, it is for people who have assets they want to protect. Depending on your specific financial situation, waiting to file could put your finances in worse shape and may even allow creditors to begin seizing your most important assets. Bankruptcy Protects You From Most Creditors An automatic stay goes…
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What You Should Know Before Filing Emergency Bankruptcy

In the beginning of your adulthood, you probably never thought that you would consider filing for bankruptcy. However, the process is more common than it seems. Even the best of us may need to file if our financial stability slips away. This can happen slowly, over a period of time. But it can also happen quickly, leaving you with no choice but to consider filing for emergency bankruptcy. An emergency bankruptcy means filing the bare minimum of paperwork required to push the case forward. You can file the rest of the paperwork later. Filing an Emergency Bankruptcy When you file for emergency bankruptcy, you trigger an automatic stay against most  collections activity. That stay goes into effect immediately and remains in place until your case ends—unless you have had one or more cases pending in the past year. This means that if you are behind on car payments or mortgage…
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