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Chapter 7

When Should A Small Business File For Bankruptcy?

Published June 4, 2020 by Juan Camacho
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...

Modest Increase in Chapter 7 Fees as of June 1

Published May 27, 2020 by Sasser Law Firm
Bankruptcy Chapter 7 is shown on the conceptual business photo

Over the past 20 years, Sasser Law Firm has helped over 8,500 individuals and businesses in North Carolina navigate and overcome financial challenges. Filing for bankruptcy is a decision that should be considered carefully. It is important for you to...

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...

How Does Your Bankruptcy Affect the Filing of Your Tax Returns?

Published April 3, 2018 by Sasser Law Firm
filing taxes during bankruptcy paperwork

People who are over their heads in debt and considering bankruptcy have a number of decisions to make regarding bankruptcy and taxes. As bankruptcy attorneys, we often hear questions from clients about how bankruptcy will affect taxes and tax returns....

How Debt Limits Impact a Bankruptcy

Published April 1, 2016 by Sasser Law Firm

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...

Vehicle Repossession Scenarios

Published January 27, 2016 by Sasser Law Firm

Receiving calls about vehicle repossessions is not new to our office. A bankruptcy can help with repossessions in two different scenarios. .. … So as between the 2 scenarios, the 2nd option is simpler and cheaper. View our Filing...

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