Bankruptcy Means Test Attorneys in Los Angeles
Information Regarding Bankruptcy Eligibility
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 Resnik Hayes Moradi 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 free 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. Resnik Hayes Moradi 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.
Resnik Hayes Moradi LLP
Meet Our Los Angeles Bankruptcy Specialists
Testimonials
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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. -
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 ...”
- Tim C. -
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 ...”
- Rusty H.
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Committed to making the process as stress-free as possible for our clients, our Los Angeles bankruptcy attorneys and dedicated staff will handle everything for you. From filling out paperwork through getting end results, we will work to help your case run smoothly and efficiently. We serve our clients in English, Spanish, and Farsi.
