For over a year and a half, we have been living our lives at home. In what seemed like an almost overnight transformation businesses and consumers evolved to survive and adapt to keep families and their livelihoods safe. Everyone had to adapt, people, parents, and professionals. Here at Borowitz & Clark, one of the first […]
In most situations, your bankruptcy estate consists of assets you owned or had a right to at the time you filed. Which assets are and are not included in the bankruptcy estate can be very important, since the trustee can use non-exempt assets to pay creditors. Generally, income after filing–even if it’s a lot of […]
Three days after the expiration of the federal eviction moratorium issued by the Centers for Disease Control and Prevention (CDC), CDC Director Rochelle Walensky signed a two-month extension. But, the original CDC order didn’t protect everyone, and this one comes with additional limitations. Here’s what you need to know. Who is Protected by the CDC […]
Foreclosure rates in California and around the country dropped dramatically during 2020, due in part to the federal moratorium on foreclosure of government-backed mortgages. Nationwide, 2020 was a record-low year for foreclosures, with starts down 67% and foreclosure sales down 70% compared with 2019. The moratorium is still in effect, but foreclosures are already on […]
According to the Q1 2021 Quarterly Report on Household Debt and Credit from the New York Federal Reserve, aggregate household credit card debt in the United States has declined by $157 billion since the end of 2019. For the average consumer, that’s a decrease of nearly $900: $5,315 in credit card debt in 2020 compared […]
On May 5, the U.S. District Court for the District of Columbia entered an order setting aside the nationwide eviction moratorium issued by the Centers for Disease Control and Prevention (CDC) on September 4, 2020 and since extended multiple times. The current order was scheduled to expire on June 30, 2021. The lawsuit was filed […]
A California statute that took effect in January changed the name of the state’s “Department of Business Oversight” to “Department of Financial Protection and Innovation.” As the new designation suggests, the department’s focus and its powers have expanded significantly. The department already had regulatory authority over a variety of financial-industry entities, including state-chartered banks and […]
2020 was a tough year for small businesses around the country, and law firms are no exception. In May, just a few months into the pandemic, Martindale-Avvo conducted a survey about the impact of Covid-19 on law firms. 81% of firms responding said their revenues had declined in 2020. About 27% of those reported a […]
Few experiences are more stressful than facing the loss of your home, especially when finances are strained. Unfortunately, it’s a situation too many in Los Angeles and around the state face each year. A 2019 report from Public Counsel and the UCLA School of Law Community Economic Development Clinic revealed that 505,924 eviction proceedings had […]
Filing for bankruptcy is rarely an easy decision. The factors are different for everyone, but one common consideration is what will happen to debt owed to friends and family members. Many people looking for ways to protect those personal relationships want to pay off those close to them before filing bankruptcy, or simply leave the […]
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