Resnik Hayes Moradi LLP Bankruptcy Overview

Bankruptcy Attorney California

Why Bankruptcy?

Many people are needlessly afraid of the bankruptcy process. They think that it’s morally wrong or that it can permanently damage their credit rating. However, bankruptcy law was derived from as far back as the Old Testament where merchants who had debts with the king were relieved from these bonds through “jubilee” every seven years. When dealing with your own personal financial situation or that for your family, there is absolutely nothing immoral about obtaining a “fresh start”. The burden of debt off one’s shoulders is a tremendous relief and filing bankruptcy can help you take control of your life and guarantee a more secure financial future.

Resnik Hayes Moradi LLP has helped lift the personal and business debt from the shoulders of thousands of people in the Los Angeles and surrounding areas. We can help you move toward a debt-free life.

For a 30-minute risk-free consultation with a bankruptcy attorney at Resnik Hayes Moradi LLP, contact our office today. Our firm serves clients in the Los Angeles area and San Fernando Valley through offices in Los Angeles.

Ready to Live a Debt Free Life?

For a 30-minute risk-free consultation about filing for bankruptcy with Resnik Hayes Moradi LLP, contact our bankruptcy lawyers in Los Angeles. We serve our clients in English, Spanish, and Farsi.

What is Bankruptcy?

Bankruptcy law allows for the development of a plan that will allow a debtor unable to pay his or her creditors, to resolve his or her debts by supervised division of his or her assets equally among the creditors. Some forms of bankruptcy proceedings allow the debtor to stay in business, using the revenue from the business to resolve the owed debts. Additionally, bankruptcy law is in place to grant certain debtors the chance to discharge (free themselves) of the financial obligations they have accumulated through distribution of their assets. This discharge can occur even if the debts have not been paid in full.

Bankruptcy is Federal Law

Bankruptcy law is a federal statutory law that is contained in the Title 11 of the United States Code. The Bankruptcy Code was passed by Congress under its Constitutional grant of authority to “establish…uniform laws on the subject of Bankruptcy throughout the United States." States are not able to regulate bankruptcy, but they are able to pass laws governing other aspects of the debtor-creditor relationship. Some sections of the Title 11 incorporate the debtor-creditor laws of those individual states.

Two Types of Bankruptcy Proceedings

Bankruptcy is essentially divided into two general categories.

Chapter 7 – Chapter 7 Bankruptcy, also known “liquidation” or “straight liquidation,” is typically the fastest and easiest form of bankruptcy. Individuals, married couples, and businesses often use Chapter 7 bankruptcy protection to get rid of unsecured debts and various financial obligations such as back rent, medical bills, and credit card debt. A trustee is appointed to collect the non-exempt property of the debtor. The trustee sells it and then distributes the proceeds to the creditors

Chapter 11, 12, 13 – Rehabilitation of the debtor in order to allow him or her to use future earnings to pay off creditors.

Chapter 13 is typically for those who do not qualify for Chapter 7. Unlike Chapter 7, which wipes out your debt, is a way to reorganize your finances so that you are able to pay off some or all of your debts over a period of three to five years. Chapter 13, also known as a “wage earner’s plan,” requires an individual to have a regular income and be able to provide a plan to the court demonstrating they will be able to repay all or part of his/her debts.

Benefits of Filing for Bankruptcy

For most people, bankruptcy is a straightforward legal process that can be accomplished quickly and without complications. A lawyer at Resnik Hayes Moradi LLP can evaluate your situation and answer your questions in a 30-minute risk-free consultation.

You Can Stop Foreclosure, Repossession & Creditor Harassment

Once Resnik Hayes Moradi LLP files for bankruptcy, all collection actions cease! Even if the foreclosure process has begun, we can prevent foreclosure and allow you to keep your home. We can stop repossession and garnishment actions. Creditors and collection agencies can no longer call you. The harassment ends upon walking through our doors. With a personal bankruptcy filing, you can get the financial breathing room you need.

Fast Action

An initial discussion with Resnik Hayes Moradi LLP takes about an hour for a simple Chapter 7 bankruptcy. Meetings involving more complex individual or business bankruptcy cases can take somewhat longer. After that, our firm can act immediately to stop repossession and foreclosure and put you on the road to financial recovery.

Flat Fees & Payment Plans

One of our bankruptcy attorneys in Los Angeles can prepare, file, and appear with you in Court for either a Chapter 7 or Chapter 13 filing for a convenient flat fee. In Chapter 13 cases, you will only need to pay the court filing fee up front. We also offer extended payment plans so that you can get help today without worrying about limiting your immediate cash flow.

Client Reviews

See What Clients Have to Say About Working With Us
  • Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.

    “Thank you for your great work on behalf of Ms. Johnson. Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.”

    - Skip K.
  • Was very impressed with the comprehensive professionalism of the firm...

    “Was very impressed with the comprehensive professionalism of the firm, especially Matthew Resnik... I had suffered through the incompetence of two previous bk lawyers not to mention fees far greater ...”

    - G.L
  • He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults.

    “Fantastic office! I want to thank Matt for taking his time with me and sincere in his assistance. He spent over an hour with me for free during our initial consult. I left knowing exactly what's ...”

    - David K.
  • He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own.

    “I worked with David Kritzer at this firm, and he was great. He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own thanks to ...”

    - Kelly S.
  • I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home.

    “I needed a bankruptcy attorney in Sherman Oaks and found Matt Resnik on Google. He has one of the best-reviewed bankruptcy law firms on Yelp so I decided to check it out his law firm for myself. I ...”

    - Joseph R.

What Sets Our Firm Apart?

  • Using a Bankruptcy Attorney Increases Your Chance of Acceptance

    Our top-rated bankruptcy attorneys will help increase your odds of acceptance by correctly filling out all paperwork. Our attorneys will also provide a schedule with what needs to be completed and include the deadline.

  • Servicing Los Angeles County and Southern California

    Our top-rated bankruptcy attorneys represent clients that are facing financial crises in Southern California. Our law firm is recognized as the “Home Savers.”

  • We File Bankruptcy Cases Daily

    Our Certified Bankruptcy Specialists have decades of combined experience exclusively handling bankruptcies.

  • We are Multilingual

    Our experienced team of attorneys serves their clients in English, Spanish and Farsi.

  • Our Law Firm is Recognized in the Top 5% of Law Firms

    Matt Resnik was selected as a Superlawyer for 11 years in a row and Roksana D. Moradi-Brovia has been selected for 7 years in a row. Partner with excellence when choosing your Los Angeles bankruptcy attorney.

  • We Can Help You Decide if Bankruptcy is Right for You

    Our top-rated bankruptcy attorneys can help you decide if chapter 7 bankruptcy, chapter 11 bankruptcy, or chapter 13 bankruptcy is right for your specific situation.

  • We Are Compassionate

    We understand first hand what you are going through, as two of our employees have personally filed for bankruptcy.

  • Work With a Certified Bankruptcy Specialist

    Matt Resnik, M. Jonathan Hayes, and Roksana D. Moradi-Brovia are Certified by the State of California as Bankruptcy Specialists. This is the highest degree of certification for the field of bankruptcy.

Want a Fresh Start?

Schedule Your 30 Minute Risk-Free Consultation Today

Contact Resnik Hayes Moradi LLP to request a consultation. We speak English, Spanish, and Farsi.

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