Struggling with debt can sometimes feel overwhelming and never-ending. Fortunately, there are ways to move yourself and your finances beyond your current struggles. Filing for bankruptcy may provide benefits that far outweigh the woes that come with constantly battling debt. Before taking this route, however, it is important to know whether your financial situation warrants such a decision. If you are struggling with the question of whether you should file for bankruptcy, keep reading to learn more about the warning signs. Below, we outline a number of warning signs that are often caused by difficult financial situations. Identifying one or a combination of these indicators may help you determine when to file bankruptcy. If any of these scenarios describe your situation, then we encourage you to speak with a Kansas City bankruptcy lawyer from our firm. Collection Agencies Are Contacting You Typically, this happens when you have failed to pay…
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Your home is where you raise your kids. It is where you have family meals and celebrate holidays. It is where you make many of your important memories. Excessive debt and falling behind on mortgage payments can jeopardize everything. If you fall too far behind on payments, then you could lose your home to foreclosure. Is there a way to stop foreclosure and save your home? If you received a foreclosure notice, then you might feel as if all hope is lost. Protecting your home from foreclosure may seem like an insurmountable task. Fortunately, there are ways families can keep their homes. A Kansas City bankruptcy lawyer can review options for stopping foreclosure. Your attorney can guide you through the process of saving your home. Some of those options could include filing bankruptcy, filing for a loan modification, or filing suit against the bank. However, bankruptcy is an option that…
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Bankruptcy attorney Neil Sader recently hosted an AMA on Reddit, drawing in thousands of people to comment on their experiences with student loans. The AMA, which made it to the front page of Reddit and in the top 10 posts, received 5,000 comments that tell us a lot about the student loan crisis. As Neil said, “bankruptcy is for the honest debtor.” For millions of former students and graduates, they do not have access to normal bankruptcy protections, even with honest intentions. While it is difficult to file for bankruptcy on student loans, it is not impossible. Under certain circumstances, debtors can receive hardship discharges (see totality of circumstances test). For others, the chances of discharging student loans will be slim. Politicians, academics and other bankruptcy attorneys should skim through this AMA, read some of the stories Reddit users have posted, and ask if it is fair to deny these…
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