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Petition for Bankruptcy on an office table.

Bankruptcies on the Rise in Southern California

By Rounds & Sutter LLP |

Bankruptcy is never someone’s plan for their future, and never their first option when financial troubles arise. It can be unpleasant to face the economic reality that bankruptcy is the best remaining option. However, bankruptcies are incredibly common and are not the permanent scarlet letter that many fear them to be. Bankruptcy is a useful… Read More »

Businesswoman brings rock with Debt word

U.S. Supreme Court to Address When Denial of Creditor’s Motion to Lift Bankruptcy Stay Can Be Appealed

By Rounds & Sutter LLP |

One of the most important and useful parts of filing for bankruptcy is that a bankruptcy automatically stops any collection activity by outstanding creditors. Creditors cannot proceed with lawsuits, evictions, foreclosures, utility disconnections, or other collection activities once notified of a bankruptcy proceeding and the automatic stay. The automatic stay is a welcome relief for… Read More »

calculator reads exemption with coins and notebook

How to Use California’s Wildcard Exemption in Bankruptcy

By Rounds & Sutter LLP |

When you file for bankruptcy in California, many of your assets become subject to the bankruptcy. Chapter 7 bankruptcies, in particular, could involve the liquidation of many of your non-exempt assets in order to pay off your creditors. But not all property must be liquidated, and not all of your assets are within the reach of… Read More »

Businessman Checking Credit Score On Cellphone app

How Long Must Bankruptcy Stay On Your Credit Report in California?

By Rounds & Sutter LLP |

Bankruptcy is an important and viable option for many Americans struggling with debt. Clients often fear that bankruptcy means the end of their financial lives. At some point down the line after recovering financially, you may need a loan for a car or home, or even to rent an apartment with a landlord who checks… Read More »

Piggy bank submerged under water to indicate discharge of debt

Is a Judgment Dischargeable in Bankruptcy?

By Rounds & Sutter LLP |

Clients facing a judgment from a lawsuit often ask if those judgments are considered debts that are dischargeable in bankruptcies. Clients generally fear that if they do not file for bankruptcy before a judgment is entered, then that judgment automatically becomes a lien, which eliminates their chances in bankruptcy court. The truth is not so… Read More »

Marijuana Joint sold by weed businesses

Federal Court Determines Bankruptcy Unavailable for Marijuana Businesses

By Rounds & Sutter LLP |

The slow but steady legalization of medical and recreational marijuana in states like California has created a host of complications in the interactions between federal and state law. Despite California, Colorado, and other states fully decriminalizing marijuana, marijuana remains a Schedule I controlled substance under federal law, illegal even for medicinal usage. Federally-insured banks, for… Read More »

Creditor is involved in bankruptcy case

Failure to List a Creditor on Bankruptcy – What Will Happen?

By Rounds & Sutter LLP |

Filing for bankruptcy is a complicated process and requires precision in filing. It is extremely important to list all known debts on the appropriate schedules accompanying your Chapter 7 or Chapter 13 filing. Your creditors have a legal right to know about the proceeding and to participate or object with regards to their claim. Your… Read More »

Federal student loan form on a table surrounded by office supplies

15,000 Student Loans to be Discharged Under Delayed Obama-Era Rule

By Rounds & Sutter LLP |

Around 15,000 former students received a wonderful holiday gift this season, as their extant student loans were discharged under a newly-implemented regulation from the Department of Education. The rule applies to certain students whose schools closed while they were in attendance, allowing them to cancel loans automatically without having to resort to debt settlement, bankruptcy,… Read More »

Businessman is adding up all debt on balance sheets while holding stack of coins

Unfair Debt Collection Practices – What is Overbiffing?

By Rounds & Sutter LLP |

Are you familiar with “overbiffing?” It’s a type of unfair debt collection practice in the news recently, and for good reason—debtors are being taken advantage of and should be on notice. In a recent case, regulators from the Federal Trade Commission (FTC) allege debt collectors may have tricked thousands of people into paying far more… Read More »

Multiple military jackets hanging on clothes rack

California Strengthens Debt and Credit Protections for Military Service Members

By Rounds & Sutter LLP |

California lawmakers recently enacted a law that expands protections for servicemembers facing debt and credit issues. The new provisions go into effect next year. Continue reading for details about the changes in the new law, and contact a knowledgeable Southern California fair debt collection attorney for help. California enacts additional debt protections for military service… Read More »