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Philip Sasser Certified as Specialist in Business and Consumer Bankruptcy Law
Sasser law Firm attorney, Philip Sasser, was recently certified by both the North Carolina State Bar and the American Board of Certification (ABC) as a specialist in both Business and Consumer Bankruptcy Law. Philip, an associate with Sasser Law Firm…
February 2014 Bankruptcy Statistics
February 2014 bankruptcy filings totaled 72,193 in the United States. According to the American Bankruptcy Institute, this is a 12% decrease from the 82,336 bankruptcy filings in February 2013. In comparison to last month, February 2014 filings increased approximately 6%…
Tax Liens Not Avoidable in Chapter 7 Bankruptcy Cases
Although some tax liabilities can be discharged in Chapter 7 bankruptcy, tax liens are not avoidable. If a taxing authority (e.g. Internal Revenue Service or NC Department of Revenue) has recorded a tax lien on a debtor’s property before filing for…
Nondischargeable Debt: Defalcation or Breach of Fiduciary Duty
Bankruptcy can be daunting, especially when dealing with nondischargeable debt. Not everything is lost, though. If you’re in North Carolina, take some time to learn about the concepts of defalcation and breach of fiduciary duty to learn what you can…
Bankruptcy May Help With a Driver License Problem Related to Unpaid Debt
In North Carolina and many other states, driving without proof of insurance and not paying traffic violation fines can lead to a suspended drivers license. Perez v. Campbell, a 1971 case decided by the U.S. Supreme Court, stated that if…
What Good is a State Court Judgment in Bankruptcy?
In a bankruptcy case, certain kinds of debts are not discharged. Recent tax liability, most student loans, and domestic support obligations are some of the most common examples of non-dischargeable debts. Other kinds of non-dischargeable debts are determined by very fact-specific examinations…
Sbarro LLC Files for Bankruptcy
The struggling pizza chain, Sbarro LLC, has filed for Chapter 11 reorganization for the second time in three years. Sbarro previously filed for bankruptcy protection in April 2011, emerging from bankruptcy in November 2011 saying that it had severely cut…
The Importance of Disclosing Transfers
The bankruptcy forms require that the debtor list all property, other than property transferred in the ordinary course of business or financial affairs of the debtor, transferred either absolutely or as security within two years immediately preceding the commencement of…
U.S. Supreme Court Rules to Protect Debtor's Exemption
A recent case before the Supreme Court addressed the fear of many debtors contemplating bankruptcy: what if all my property is taken away from me and I have nothing left to live on? Personal bankruptcy offers debtors the opportunity to…
EDNC Case on Whether Unauthorized Charges are Consumer in Nature
Eastern District of North Carolina Chief Judge Randy Doub issued an opinion on February 20, 2014 in a case where the debtor attempted to argue that certain debts were primarily non-consumer in nature. The debtor argued that the debts were…
