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What Not to Do When Filing For Bankruptcy In CA

By Rounds & Sutter LLP |

Bankruptcy is a complex, often overwhelming process. It’s also rife with pitfalls for the unwary. People get bad advice from friends and family about how to protect their assets, which only leads to more debt and more difficulties. Below, we discuss some of the common mistakes we’ve seen debtors make when filing for bankruptcy. If… Read More »

House in chains

What Can and Can’t Be Repossessed by Creditors

By Rounds & Sutter LLP |

One of the most alarming and disheartening parts of struggling with debt is the fear that your property may be taken from you. Foreclosure of your home and repossession of your personal property adds insult to injury, often making it more challenging to pay down debts on top of how demoralizing and affronting it feels… Read More »

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Tips to Avoid Second Bankruptcy

By Rounds & Sutter LLP |

Bankruptcy can work to resolve many of your debt problems, but it doesn’t solve everything. If it’s been a few years since your bankruptcy and debt is starting to creep back up, or if you are fresh from your bankruptcy and you are looking for good habits to avoid debt issues down the line, read… Read More »

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Social Security and Bankruptcy

By Rounds & Sutter LLP |

Supplemental Security Income (SSI) benefits and Social Security Disability insurance (SSDI) benefits are generally reserved for people who are unable to pay all of their bills without governmental assistance due to disability, age, or other reasons for limited income. Citizens who have worked for at least 10 years and are at least 62 years old… Read More »

Portrait of the owner of a clothing store at the entrance of the new business with the tablet in hand to analyze the sales, new orders to be sent and check the stocks

How to Form an LLC in CA

By Rounds & Sutter LLP |

An LLC, or limited liability company, is a standard business structure that affords protection from individual liability for business owners while offering the pass-through taxation enjoyed by sole proprietors or partnerships. It’s the perfect type of entity for many startup companies. To form an LLC, there are a number of legal hoops to jump through…. Read More »

Partners making deal, shaking their hands, sitting in work place, wearing elegant, classic suits, to sign a contract, three professional, confident, stylish, attractive partners find a compromise

Components of a Letter of Intent

By Rounds & Sutter LLP |

A letter of intent (LOI) is a useful business document that records the terms discussed in negotiation for a particular transaction. In many cases, the LOI is meant to be a non-binding memorialization of the parties’ current position, to be followed by a final, binding agreement. Whether the LOI is meant to be binding or… Read More »

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How Coronavirus Can Affect Your Bankruptcy

By Rounds & Sutter LLP |

The COVID-19 coronavirus pandemic has led to significant economic hardship for millions of Americans. For many Americans already struggling with debt, the pandemic only made things worse. State and federal governments have offered some economic relief, however, in light of the pandemic, which might ease the burden even for debtors who were already in the… Read More »

Top view of stressed young Asian woman hands holding the head trying to find money to pay credit card debt and all loan bills. Financial problem from coronavirus or covid-19 outbreak crisis concept.

What is a Charge-Off Debt?

By Rounds & Sutter LLP |

Credit reports contain a variety of entries littered with legal and financial jargon. It can be difficult to know what each entry actually means, and what effect each entry has on your credit score. Many debtors who are struggling with payments discover that one of their debts has been converted into a “charge-off debt,” but… Read More »

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Does Bankruptcy Clear Tax Debt?

By Rounds & Sutter LLP |

Bankruptcy can be a vitally useful legal tool for consumers trying to get out from under crippling debt. Certain types of debts, however, can be more difficult to clear than others. How do state and federal taxes factor into a bankruptcy proceeding? Can they be discharged, or are they non-dischargeable in bankruptcy? Continue reading for… Read More »

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How to Stop Wage Garnishment in California

By Rounds & Sutter LLP |

Wage garnishment adds insult to injury when it comes to debt: A court order requires the debtor’s employer to withhold a portion of the debtor’s income and send it directly to the creditor. Debtors already struggling with debt lose the ability to even decide what to do with their paycheck. If you are facing wage… Read More »