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Chapter 11

Importance of 30 Day Budget

Published January 3, 2022 by Philip Sasser

 When a small business owner contacts our firm, one of the most important questions they ask us is “how quickly can I file a case?” The answer to that is easy: right now. While the factors that go into...

What Do You Lose When You File Bankruptcy?

Published October 13, 2021 by Sasser Law Firm
bankruptcy chapter 7 documents

Filing bankruptcy could give you a financial fresh start if you can’t repay your debts. However, it’s not a magic bullet, and some consequences remain. The type of bankruptcy you file, along with your asset and debt makeup, will determine...

What Bankruptcy Can and Cannot Do

Published September 24, 2021 by Sasser Law Firm
Chapter 13 Bankruptcy Document

Bankruptcy can be a practical solution for people with problematic debt. It can also help them hold onto important assets, rebuild their credit, and find a stable financial path forward. However, bankruptcy has limitations that you need to understand if...

Random Audits

Published September 14, 2021 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 finds evidence of fraud,...

Chapter 11 Proof of Claim

Published April 21, 2021 by Sasser Law Firm
bankruptcy chapter 11, text on white paper over gray background

A chapter 11 bankruptcy proof of claim can make the difference of whether you get paid at all for the full or partial amount the debtor owes you. Properly preparing this proof of claim and filing it within the appropriate...

How Often Can You File for Chapter 11 Bankruptcy?

Published January 13, 2021 by Sasser Law Firm
Stack of papers about chapter 11 bankruptcy and glasses

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,...

Neiman Marcus Nears Bankruptcy Filing

Published May 12, 2020 by Sasser Law Firm
Neiman Marcus store

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

Published March 30, 2020 by Sasser Law Firm
chapter 11 bankruptcy paper

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

Published September 24, 2019 by Sasser Law Firm
calculating and filing a chapter 11 bankruptcy form

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,...

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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