Kansas City bankruptcy attorney Neil Sader, Managing Member of The Sader Law Firm, recently gained national attention for his Reddit AMA (Ask Me Anything) on student loans and bankruptcy. Sader hosted the AMA so Reddit users could share their personal experiences with student loans and learn what options are available to reduce and/or modify student loan debt. With the title, “I Am A Bankruptcy Lawyer and Student Loans Are Killing Millennials and the Middle Class,” Sader drew in over 5,000 comments, surpassing every other AMA posted to Reddit in February. The AMA soared to the top 10 spot of Reddit’s front page and stayed there for six hours. Throughout the AMA, Sader answered questions on income-based repayment plans for federal loans, the student loan crisis, bankruptcy and non-bankruptcy options and other inquiries regarding personal finance.
Sader also made several comments concerning what changes in the laws borrowers might be able to expect in the future and how the student loan crisis can evolve. When asked about potential future policy changes for student loans, Sader wrote, “Given the impact of compound interest, I will soon be seeing clients with $1 million student loan balances which are not payable in any scenario. The question is whether the existing bankruptcy laws will be used to help allow these debts to be discharged or will there be other programs initiated. I do not think drastic action will happen anytime soon, but give it another three to four years and I think the overwhelming debt many face will force the issue.” After posting this comment, hundreds of Reddit users began to reply with their own stories of frustration and hopelessness caused by student loans.
Neil Sader is the founder of The Sader Law Firm, a bankruptcy and student loan law firm located in Kansas City, Missouri. Sader works closely with student loan debtors to find solutions to their financial problems caused by both government and private student loans and helps them evaluate all options, including the use of bankruptcy, in certain situations. Neil Sader was featured in Missouri Lawyers Weekly for his successful work in reducing his client’s student loan debt by $250,000 through the filing of a hardship petition in a bankruptcy case.
About The Sader Law Firm
The Kansas City bankruptcy attorneys at The Sader Law Firm have more than 30 years’ experience helping individuals, couples and businesses with Chapter 7 bankruptcy, Chapter 13 bankruptcy and Chapter 11 bankruptcy. Their caring, experienced attorneys and staff understand what financial problems can do to you and your family. If you are facing foreclosure, you need an attorney to get involved as quickly as possible to let you know your options!
The Sader Law Firm is a member of the International Society of Primerus Law Firms.