One of our attorneys, Bradley D. McCormack, recently helped a client discharge thousands of dollars in debt during a complicated Chapter 7 bankruptcy case. After our client had filed his bankruptcy paperwork, his ex-girlfriend alleged that he owed her $19,000 in personal loans. She had objected to the discharge of this debt, claiming our client had made omissions and misrepresentations on his bankruptcy disclosure forms. After a multi-day trial in bankruptcy court, attorney Bradley D. McCormack was able to show that the alleged omission or misrepresentation was immaterial and without fraudulent intent. For example, during the trial, it was admitted our client mistakenly failed to include two contractor licenses. However, the court noted that these licenses had no value and their failure to be listed on the disclosure forms was a simple inaccuracy. As a result of Bradley D. McCormack’s skill, the Court denied the Objecting Creditor’s arguments and allowed…
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Kansas City bankruptcy attorneys Neil S. Sader and Michael J. Wambolt have written an article for the Spring 2017 edition of Primerus Paradigm magazine. The article, titled “For Federal Student Loan Debt, What You Owe Is Less Important Than What You Know”, discusses helpful debt relief options available to borrowers with federal student loans. The premise of this article is that if you are struggling with student loans, knowledge is power. It is important to know which options are available for lowering payments or seeking loan forgiveness. Neil Sader and Michael Wambolt discuss several helpful options for borrowers who are struggling to pay back federal student loans. These options include: Income-driven repayment plans: Borrowers with federal student loans have one or more options to enroll into income-driven repayment programs. These programs limit monthly payments to a percentage of discretionary income. Loan forgiveness: Some borrowers may be eligible for loan forgiveness…
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EFT stands for Electronic Fund Transfer. This is basically a system where funds from a bank account can be automatically transferred to pay another party. Many payday loan and short term loan companies require the customer, as a condition of the loan, to set up an automatic transfer of funds from the customer’s bank account to the lender. It is important that the borrower understand that they do not have to continue to allow the lender to withdraw money from their account. Especially if the borrower is thinking of filing bankruptcy. These loans are typically unsecured debt, meaning they can be discharged in a Chapter 7 or Chapter 13 bankruptcy. Therefore, if the borrower is going to file and eventually get these loans discharged, it makes no sense to continue to allow the lender to take money from their bank account. Additionally, if you need the money to pay utilities…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at 816-561-1818.
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