Page 18 - NC Triangle Vol 7 No 3

Bankruptcy is often a middle-class problem because you are attractive to banks who want to lend you money in the first place.
THE FIRM
Sasser Law Firm focuses on chapters 7, 11 and 13. Small business clients have included restaurants, churches, trucking companies and developers attempting to restructure their debt and continue operating. e rm’s lawyers – Travis Sasser, Philip Sasser and Cort Walker – are each board certi ed specialist.
Travis rst launched Sasser Law Firm in 2000 as a solo practitioner. In 2008, the prac- tice expanded when his younger brother, Philip, joined the rm. Cort Walker joined in 2010. ey all serve as deacons at Sovereign Grace Church in Apex.
BANKRUPTCY SERVES MANY PURPOSES
“Bankruptcy is o en a middle-class prob- lem because you are attractive to banks who want to lend you money in the rst place,” said Philip. “We tell clients the situation you are in is common and we can help. I’m aware that people are telling me things they might not even tell their extended families about. We aren’t doctors or pastors, but it’s not dissimilar in some ways. We see people when they’re the most vulnerable.” In addition to middle-class persons, it can also help entrepreneurs and business people who are exposed to risk when a reversal occurs and it can even help working class debtors trying to stave o eviction or a utility disconnect. “It really runs the gamut,” according to Travis.
e rm has seen a sharp increase over the last ve years in bankruptcy caused by merchant cash lenders making loans to busi- nesses. “ ey are like payday lenders for small businesses and they lend out money very easi- ly and the repayment terms can be di cult for businesses to meet. It seems like almost every chapter 11 small business case we led has at least one and maybe three or four lenders be- hind it taking daily dra s from the company’s bank accounts,” said Philip.
“We have a large number of clients with federal or state tax issues who need help re- organizing that tax debt or discharging some of it. A bankruptcy case creates a context to deal with these matters. A lot of people don’t even know how to communicate with the IRS or department of revenue. A bankruptcy case can provide a context to address the correct amount owed and an appropriate repayment scheme,” said Walker.
Working with family law attorneys is anoth- er of the rm’s niches. “Separation and divorce is a common cause of bankruptcy lings,” said Travis. “We help the family law attorneys navigate bankruptcy on both sides, debtor or the non-debtor spouse. ere are issues like
dividing up property or debt, an attempt to collect support or modify support or seek an absolute divorce. ere are a lot of very de- tailed things a family law practitioner needs to be aware of in terms of whether and how state court litigation is impacted by the bankruptcy case,” said Travis.
“Clients o en think that chapter 13 or chapter 11 requires a repayment plan where all of their creditors have to be paid back in full. While that is sometimes the case based on the facts, it is more common for debtors to pay back very little of their general unsecured debts. A plan of reorganization is usually de- signed to pay back obligations like taxes or se- cured creditors, but not the totality of general unsecured loans,” explained Philip.
TRAVIS SASSER: THE LINCOLN LAWYER
Travis Sasser grew up in Cary and earned a Bachelor of Arts from NC State in political science and a minor in his- tory. While in law school at the Univer- sity of Georgia he de- veloped an interest in
bankruptcy law.
He is an admirer of Abraham Lincoln. A
photo from Lincoln’s second inauguration in 1865 hangs prominently in his o ce. He said the speech is one of his favorites.
“For a brief time (1841-1843) Abraham Lincoln was a bankruptcy attorney,” he con- tinues. “ at Lincoln could go from being a small-town lawyer representing individuals to go on to become arguably the greatest Ameri- can president is inspiring.”
He and his wife, Joy, have four children. Georgia, 17, Henry, 16, Oliver, 13, and Grant, 12.
Travis spends time with his sons through Royal Rangers, a ministry for boys. “It’s a great opportunity to teach practical skills, an appreciation of the outdoors and instill values to the boys in my church while also spending time with my sons.” He enjoys history and occasional travel and as a result his children have visited an above-average number of battle eld sites including Normandy, Shiloh, Pearl Harbor, Gettysburg, Monte Cassino, and Bunker Hill among others. ey have also vis- ited Spring eld, Illinois to see Lincoln related sites.
ATTORNEY AT LAW MAGAZINE · NORTH CAROLINA TRIANGLE VOL. 7 NO. 3 18