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Chapter 7

How Much Does It Cost to File for Bankruptcy?

Published January 7, 2021 by Sasser Law Firm
form on grey office desk with computer keyboard top view

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...

Bankruptcy Can Help You Stop an Eviction or Help You Transition to a New Residence

Published January 4, 2021 by Sasser Law Firm
eviction notice during pandemic in North Carolina

Written By: Cort Walker The coronavirus pandemic and its impact on the local (Raleigh, NC) and national economy has financially devastated many individuals and families. Evictions and, as a result, homeless families are a very real threat for 2021. Many...

Bankruptcy and the "Consolidated Appropriations Act"

Published December 30, 2020 by Sasser Law Firm
animated man thinking about bankruptcy

Written by: Philip Sasser When the first stimulus package (aka The CARES Act) was passed in March 2020, the part most people focused on was how much money they were going to get – responses generally falling into the categories...

NC Bankruptcy Means Test (Median Income) Increase as of Nov 1, 2020

Published November 6, 2020 by Sasser Law Firm
petition to file for bankruptcy form on a desk

As of November 1, 2020, the North Carolina median income, for means test calculation purposes, increased.  This means that the six-month look back on your income allows for a slightly higher income threshold for your household size than it did...

When Should A Small Business File For Bankruptcy?

Published June 4, 2020 by Sasser Law Firm
Man contemplating money in wallet during 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...

Consumer Debt Gets Tough to Manage Around the Holidays

Published November 26, 2019 by Sasser Law Firm
'Hand of a person facing holiday debt holding credit card and looking at their balance on a computer screen

The winter holidays are a joyous time, but not if you are struggling with debt. From Black Friday and Cyber Monday to last-minute sales just before Christmas, industry experts expect the average American to spend $920 per person on holiday gifts in 2019.  It’s easy...

How Do Chapter 7 and 13 Bankruptcy Affect My Credit?

Published October 9, 2019 by Sasser Law Firm
man cutting credit card

It’s a question we hear often: How long does a Chapter 7 bankruptcy stay on a credit report? A Chapter 7 bankruptcy will remain on your credit report for 10 years, but the real impact of a bankruptcy on your...

Benefit of Car Liens When Filing Bankruptcy

Published August 1, 2019 by Sasser Law Firm
car keys sitting on top of loan application

Filing Bankruptcy with a Car Lien In 2005, the United States Congress made significant changes to the nation’s bankruptcy laws. In the end, secured creditors – car finance companies, mortgage companies and seller-financed furniture dealers – fared best, but one...

Random Audits

Published May 28, 2019 by Sasser Law Firm
couple looking over bankruptcy documents

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

Published June 29, 2018 by Sasser Law Firm
petition for bankruptcy form

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...

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