Chapter 11
How Often Can You File for Chapter 11 Bankruptcy?

If you’re a struggling business owner, filing for Chapter 11 bankruptcy can give you a chance to restructure your debts and find a way back to solvency. Hopefully your first bankruptcy filing will address your business’ financial issues. If not,...
How Much Does It Cost to File for Bankruptcy?

If you are held down by debt and considering filing for bankruptcy, you will likely want to know how much it will cost to hire a bankruptcy attorney and pay for the process. Sasser Law Firm understands that money will...
When Should A Small Business File For Bankruptcy?

It is natural for small business owners to be distressed and unsure of what steps to take when their businesses begin to struggle. Many think of bankruptcy as a sign of failure, but in reality, bankruptcy is a tool that...
Neiman Marcus Nears Bankruptcy Filing

Facing nearly $5 billion of debt and dwindling sales during the COVID-19 pandemic, luxury retailer Neiman Marcus may file for bankruptcy. Brick-and-mortar retail sales have dropped significantly because of stay-at-home orders, which have closed non-essential businesses like clothing stores. Like...
Pier 1 Files for Chapter 11 Bankruptcy

Home goods and decor retailer Pier 1 Imports Inc. filed for Chapter 11 bankruptcy on February 17 and is pursuing the sale of the company. According to its last yearly financial report, the company had about 18,000 employees as of...
New Bankruptcy Law To Benefit Small Businesses

President Trump has signed the Small Business Reorganization Act of 2019 (SBRA) into law, streamlining Chapter 11 bankruptcy restructuring for small businesses to make the process faster and less expensive. The new bankruptcy law, which takes effect on February 19,...
Random Audits

It is not likely but always possible that your personal bankruptcy case will undergo an audit directed by the United States Bankruptcy Administrator which monitors and investigates bankruptcy cases to ensure compliance with applicable laws and procedures. If the Bankruptcy Administrator...
Cross-Collateralization Bankruptcy

Many people sign loan agreements without reading the fine print or understanding the consequences if the agreement contains a cross collateralization clause. Cross collateralization provisions in loan agreements can create unexpected complications for borrowers seeking to discharge debts by filing...
How Debt Limits Impact a Bankruptcy

Typically, the menu of bankruptcy chapters presented to individuals is short: you’ve got chapter 7 and you’ve got chapter 13. Because the various flavors in which those two chapters can come is endless, though, it’s relatively rare that someone’s forced...
The Perils of Leaving Chapter 11 Too Quickly
No one likes being in bankruptcy. In fact, one of the great attractions of chapter 7 is that most cases are relatively short and debtors are sent merrily on their way within a few months of filing. But for companies or individuals who...