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Bankruptcy Qualification

California Bankruptcy Qualifications

Information Regarding Bankruptcy Eligibility - California Bankruptcy Means Test

A few years ago, major changes were made to the bankruptcy laws. These changes have resulted in a great deal of confusion surrounding the bankruptcy process. Because determining which type of bankruptcy you qualify for has gotten more difficult, it can be helpful to discuss your situation with an experienced attorney.

The Los Angeles bankruptcy lawyers RHM LAW LLP have extensive bankruptcy experience. Our firm has helped thousands of individuals and small businesses find the debt relief they deserve through bankruptcy protection.

During a 30-minute complimentary consultation, we can evaluate your financial circumstances and let you know which type of bankruptcy you qualify for. Call (213) 344-0043 to learn more.

Chapter 7 Bankruptcy

There is a threshold that Congress created about how creditors will be paid in bankruptcy. RHM LAW LLP knows how to weed through the means test process so you can complete a Chapter 7 bankruptcy without any issues.

Chapter 7 bankruptcy is for filers who truly cannot afford to pay their debts. To qualify, a debtor must pass the means test, which is an analysis of income, expenses, and total amount of debt. If a debtor has enough disposable income to pay back even a portion of the total debt, that person will need to file for Chapter 13 bankruptcy.

While the means test may sound simple, it involves a complex formula and detailed knowledge about your state’s median income levels. If you are wondering whether you qualify for this type of debt relief, speak with our bankruptcy attorneys.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to cure a default and keep real and personal property. To qualify for Chapter 13 bankruptcy, the debt reorganization plan, an individual must have a source of income and be able to maintain repayment obligations. Further, the debtor’s total unsecured debt and secured debt must fall below a certain dollar amount, which is adjusted periodically for inflation. Also, the debtor must submit proof that he or she filed federal and state income tax returns for the four years prior to filing bankruptcy.

Los Angeles Bankruptcy Attorneys · Se habla español

Determining eligibility for bankruptcy is a sophisticated and complicated process. To ensure you are on the right track, speak with our firm about your circumstances. Our lawyers will look at your situation from all sides and advise you whether bankruptcy is the best route for you. If so, we will take your total debt, income, and ability to repay into consideration to identify the bankruptcy plan you qualify for.

We proudly serve clients in San Fernando Valley and throughout Los Angeles, Riverside, San Bernardino, and Orange Counties. Contact us today to get started.

Client Reviews

What Clients Say About Working With Us
    "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."
    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.
    "These are top-notch pros that'll have your back. I cannot recommend them highly enough."
    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.
    "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 than anticipated, without resolution. Having never gone through bk before, I did not realize how difficult it could be...then, my case was turned over to Mr. Resnik...almost immediately there was a marked positive difference. Where there was little to no communication, all of a sudden I am getting updates...regularly. Further, my case was finally discharged...yet, Mr. Resnik continues to communicate, offer assistance...and, has NEVER asked for additional fees, which I am sure he could have justified...much unlike the two previous attorneys with which I was dealing. I have no reservations, whatsoever, referring and recommending Matthew Resnik for any and all business or personal bk issues...or, other wise. I have no doubt that he will be transparent on helping you regardless of the problem. Good guy.. good firm... a wonderful experience!

    - G.L
    "I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate."
    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.
    "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 quickly found out that they are foreclosure specialists and they could help me with my issue. They made the process very easy for me and laid out my options for me. 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. They are the best bankruptcy law firm in Sherman Oaks.
    - Joseph R.
    "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."
    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.
    "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 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.
    "He made me feel like I had options, all was not lost, and I could rebuild my credit."
    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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