
Do’s and Don’ts of Bankruptcy
If you are considering bankruptcy, there are some things you can do to protect yourself and your assets. At RHM LAW LLP, we work hard to help our clients make smart decisions when it comes to Chapter 7 and Chapter 13 bankruptcy.
Visit our offices in Los Angeles or Encino to discuss your situation in a 30-minute complimentary consultation. Call our bankruptcy attorneys in Los Angeles today at (213) 344-0043.
Things You Should Do
There are several things you should keep in mind as you proceed, such as:
- Take your situation seriously: Ignoring your financial trouble will not make it go away. Speak to a RHM LAW LLP bankruptcy lawyer about your options as soon as possible.
- Be honest about all your debts and assets: To best serve you, our attorneys need all of your financial information, even if it is embarrassing to you. We can provide a feasible solution in bankruptcy. Keeping us informed will create the best results.
- Continue making payments on vehicles and homes you intend to keep: If you are behind on your payments, your creditors can repossess your property.
Things You Should Not Do
Be certain you are avoiding behaviors such as:
- Withdrawing money from your 401k: Generally, this account is exempt in bankruptcy, absent fraud. Further, early withdrawal makes you liable for taxes and penalties that are not dischargeable in bankruptcy.
- Buying massive purchases on or taking out large cash advances from your credit cards before filing: If the court sees exorbitant purchases or cash advances six months to one year prior to filing, it may consider your petition fraudulent and dismiss your claim. Contact an attorney for accurate answers to any questions or concerns you have.
- Transferring property out of your name: Hiding assets is risky and illegal. Our bankruptcy attorneys can let you know about legal ways to protect your property.
- Taking cash advances from one credit card to make payments on another: Once you start juggling credit cards, you are in trouble. Speak with our firm immediately.
- Repaying friends or relatives before filing: You cannot treat friends and family preferentially over your creditors.
- Speaking with creditors without your bankruptcy attorney present: After you file bankruptcy, your lawyer will communicate with your creditors on your behalf.
- Considering bankruptcy an easy way to get rid of all your debts: Not all debt is discharged in bankruptcy, including certain tax debt, student loans, and child support payments.
30-Minute complimentary Consultation · Se habla español
For experienced bankruptcy guidance from attorneys who understand your needs, turn to RHM LAW LLP. We can help you stop a foreclosure, repossession, garnishment, and/or creditor harassment. We proudly serve clients in San Fernando Valley and throughout Los Angeles, Riverside, San Bernardino, and Orange Counties.
Contact our Los Angeles bankruptcy attorneys today to schedule your 30-minute complimentary consultation.

RHM LAW LLP
Meet Our Los Angeles Bankruptcy Specialists
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M. Jonathan Hayes Senior Counsel
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Matt D. Resnik | Partner Partner
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Roksana D. Moradi-Brovia | Partner Partner
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Russell J. Stong III | Associate Attorney Senior Associate Attorney, Los Angeles Office
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W. Sloan Youkstetter | Associate Attorney Senior Associate Attorney, Los Angeles Office
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David M. Kritzer Senior Associate Attorney, Encino Office

Client Reviews
What Clients Say About Working With Us
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I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate. I also met with their loan modification department. Unfortunately, they were unable to help because of the type of loan that I have. I really appreciated that they did not lie, waste my time, or take my money in an attempt to modify a loan that was not doable. I've since used their firm for a couple of minor issues and found all of the attorneys to be knowledgeable and considerate. Attorneys Simon and Resnik are amazing!- Shannon J.
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Dear Mr. Resnik: We wanted to thank you for your professional handling of our loan modification with GMAC mortgage. We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service.
- W and B Mejia -
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 his knowledge and expertise in the field. If you have a debtor on your back go to him to get it taken care of.- Kelly S.
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This is to thank you for the exceptional work of you and your fine staff. In managing my bankruptcy and loan modification, a nearly five-year effort, your performance was stellar. I never felt alone or adrift, key concerns in those circumstances. The outcome was outstanding. As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others. Without hyperbole, I can attest that you are present a beacon. Thank you so much.- K.C.
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Where to begin? I had a vile evil credit union repo my car over a misunderstanding, they wouldn't work with me even when I offered full payment plus repo fees (this was my first repo!) so I didn't know what to do. I met with a few lawyers but when I met with Simon he broke things down and gave me my options. I needed a car - so I filed BK and included the car to get it back. The evil credit union fought and Simon GOT ME MY CAR BACK!!! His team is amazing!!!! Maria Donna etc!!! These are top-notch pros that'll have your back. I cannot recommend them highly enough. Sincerely they saved my life. LA with no car!? ARGH!!!!!! *THANX ALL!!!!- Tim C.
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Matt is the best bankruptcy attorney in Sherman Oaks. I consulted with Matt over a chapter 7 bankruptcy. I had issues with overwhelming credit card debt after Chase increased it's APR for no reason. It set off a chain of events that were really hurting me. He made me feel like I had options, all was not lost, and I could rebuild my credit after the 7. I had some concerns about a piece of property I was having issues with and Matt also turned out to be a real estate lawyer as well! I recommend this office to anyone who is unsure of their financial situation. It doesn't hurt to find out your options.- Max B.
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Matt and his team are the best!! They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life. I never felt judged or looked down on. They were efficient and really were lifesavers during this tough time. I can not recommend them highly enough!!!!- Rusty H.
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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. -
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 needed. 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. Affordable and Outstanding firm and thank you for all you have done! My family thanks you!- David K.

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A Summary of Bankruptcy Law: Third Edition
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Summary of Chapter 13