Chapter 7 Bankruptcy Attorney in Encino
At RHM LAW LLP, we understand how overwhelming the decision to file for Chapter 7 can feel. Our compassionate team is here to guide you every step of the way, offering support in English, Spanish, and Farsi to ensure clear communication. With decades of experience and Certified Bankruptcy Specialists on our team, we handle bankruptcy cases daily, increasing your chances of acceptance by meticulously managing the process. Proudly serving Encino, Los Angeles County, and Southern California, we are committed to helping clients overcome financial challenges and protect their assets. If you’re ready to take the first step toward a fresh financial start, contact RHM LAW LLP right away to schedule your consultation. Together, we’ll help you find a solution tailored to your needs.
Connect with an experienced Chapter 7 lawyer without delay. Dial (213) 344-0043 or submit an online form for a 30-minute complimentary consultation. Se habla Español.
What Is Chapter 7 Bankruptcy and Its Benefits?
Chapter 7 Bankruptcy is a legal mechanism allowing individuals overwhelmed by debt to start fresh by discharging certain unsecured debts. As a leading bankruptcy law firm in Encino, we, at RHM LAW LLP, provide guidance to help you navigate the complexities of this process. This form of bankruptcy is particularly beneficial for those with limited income and substantial debt, mainly because it can eliminate debts like credit card balances and medical bills.
Choosing Chapter 7 Bankruptcy can have significant advantages:
- Immediate Relief: Upon filing, an automatic stay takes effect, halting creditors’ collections and providing breathing room.
- Debt Discharge: Most unsecured debts, such as credit card debts and personal loans, can be wiped clean.
- Fast Process: The process usually concludes within 3 to 6 months, allowing for a quick resolution.
Beyond these immediate benefits, Chapter 7 Bankruptcy provides a pathway for financial education and discipline. As part of the process, filers are required to attend credit counseling sessions. These sessions not only fulfill a mandatory requirement but also equip individuals with tools to manage finances effectively post-bankruptcy. This newfound understanding of financial management helps prevent future financial distress, making Chapter 7 an educational journey as well.
Chapter 7 Bankruptcy Process: What to Expect
Filing for Chapter 7 Bankruptcy involves a clear, structured process that RHM LAW LLP is here to guide you through every step of. The process typically includes:
- Consultation: Discuss your financial circumstances with us during a risk-free 30-minute consultation to determine if Chapter 7 is the right choice.
- Court Filings: We assist in preparing and filing the necessary documents to initiate the bankruptcy process in the Encino jurisdiction.
- Trustee Meetings: Attend a meeting with a court-appointed trustee, where you will answer questions regarding your financial affairs.
- Debt Discharge: After compliance with all requirements, your qualifying debts receive official discharge by the court.
We understand that the bankruptcy process can be daunting, so we offer educational support to help clients navigate it confidently. Our team provides a pre-bankruptcy review and analysis to ensure all documents are complete and accurate, minimizing delays and complications. Additionally, we offer post-bankruptcy planning sessions to assist clients in establishing viable financial goals and maintaining their new financial standing. Connect with a Chapter 7 bankruptcy lawyer in Encino at our firm as soon as possible.
Why Work With Local Chapter 7 Attorneys?
Encino, located in Los Angeles’ San Fernando Valley, is subject to both California state laws and federal regulations concerning bankruptcy. Our local presence allows us to be current with all the specific regulations that impact your case. Additionally, our familiarity with local courts and trustees in Encino and the surrounding areas ensures a smooth process during your bankruptcy journey.
Being local also means we are attuned to the economic trends specific to Encino, allowing us to offer strategic advice based on local financial conditions and challenges.
Living in Encino comes with its unique set of economic challenges. The cost of living, coupled with fluctuating income levels due to economic conditions, often puts residents in difficult financial situations. Our understanding of these local nuances ensures that the strategies we propose resonate with the real-world scenarios our clients face daily. This allows us to provide targeted solutions, whether it’s a strategic asset protection plan or guidance on local resources available for financial assistance. Turn to a skilled Chapter 7 lawyer now.
Why Choose RHM LAW LLP for Filing Chapter 7 Bankruptcy?
We at RHM LAW LLP have a long history of assisting over 7,500 clients through their financial hardships. Our personalized approach guarantees that each client receives the attention their unique situation deserves. Our provision of same-day appointments and multilingual consultations (English, Spanish, and Farsi) ensures accessibility to a broad client base in Encino. Our commitment lies in enabling clients to use the Chapter 7 process as a tool to gain financial freedom.
- Experience You Can Trust: With over 20 years in practice, our team has filed thousands of bankruptcy cases, building a reputation for success and trustworthiness.
- Comprehensive Guidance: We offer a wide range of services beyond Chapter 7, addressing IRS tax relief, medical bill relief, and creditor harassment.
Our clients benefit from our local insight, allowing us to tailor our advice to the specific economic conditions impacting their community. This local knowledge, combined with our extensive experience, empowers our clients to make informed decisions that directly improve their financial health. Reach out to a Chapter 7 bankruptcy attorney in Encino now.
Understanding Means Testing and Eligibility in Chapter 7 Cases
One of the most important steps when considering Chapter 7 bankruptcy is determining your eligibility through the means test. The means test is designed to assess whether your income is low enough to qualify for debt relief under Chapter 7. This process can feel complex, especially for families or small business owners in Encino who may have fluctuating incomes or unique financial circumstances. By carefully evaluating your household income, expenses, and debts, our team helps you understand whether Chapter 7 is a viable option for your needs.
The means test compares your average monthly income to the median income for households in California. If your income is below this threshold, you may be eligible for Chapter 7 bankruptcy. If your income is above the median, additional calculations are required to determine if your disposable income would allow for partial repayment of your debts through a different chapter. California law and local courts, such as the Central District of California—where cases from Encino are generally filed—set important guidelines that affect eligibility and exemptions. Our team is experienced in guiding clients through these local laws, helping you avoid common mistakes during filing.
- Income records: Collect recent pay stubs, profit and loss statements, or proof of all sources of income.
- Tax returns: Have complete copies of your last two federal and California state tax returns available.
- Monthly expenses: Prepare documentation showing your rent, utilities, medical costs, child care, transportation, and other necessary living expenses.
- Debt statements: Gather credit card bills, loan statements, and collection notices that confirm your current financial obligations.
Consulting with a Chapter 7 attorney ensures these documents are reviewed accurately, giving you the best opportunity to qualify. If you have questions about the means test or want personalized guidance for your situation in Encino, we invite you to contact our office for clear, local insight.
For experienced guidance, turn to a skilled Chapter 7 bankruptcy lawyer at RHM LAW LLP. Contact us or call (213) 344-0043 to secure a consultation.
Frequently Asked Questions About Chapter 7
Which debts are discharged?
In Chapter 7 bankruptcy, unsecured debts such as credit card balances, personal loans, and medical bills are typically eligible for discharge. However, some obligations, including most student loans, child support, and certain tax debts, are not dischargeable. A Chapter 7 bankruptcy lawyer in Encino at RHM LAW LLP will review your financial situation to identify which debts can be eliminated and provide guidance on addressing any remaining obligations.
How will this affect my credit?
Filing for Chapter 7 will negatively impact your credit score initially, but it also gives you a chance to rebuild your credit over time by establishing better credit practices after your debts are discharged. Our legal team at RHM LAW LLP provides guidance on effective ways to rebuild credit post-bankruptcy. Reach out to a Chapter 7 lawyer right away.
What property can I keep after filing?
California allows exemptions that protect certain property types during bankruptcy. This may include equity in your home, vehicles up to a specific value, personal property, and necessary household items. RHM LAW LLP, your Chapter 7 bankruptcy lawyer, helps you maximize what you retain under current state law in consultation with local practices near the Central District courts.
How long does the process take?
The entire Chapter 7 bankruptcy process typically takes between three to six months, depending on the complexity of the case and document submission efficiency. Our team strives to ensure a smooth and timely process for clients in Encino, anticipating local court requirements and procedural variations in Los Angeles County. Connect with a Chapter 7 bankruptcy attorney in Encino for experienced guidance.
Do I need a Chapter 7 Bankruptcy attorney?
While you can file a Chapter 7 case without legal counsel, having a Chapter 7 bankruptcy lawyer can markedly increase your chances of a favorable outcome by ensuring compliance with legal documentation and court procedures. We offer both legal and strategic support throughout the bankruptcy process to maximize your protection and peace of mind.
It's crucial for individuals who are considering filing for Chapter 7 to remember that its impact on credit is not permanent. Many filers in Encino find that their credit scores start improving sooner than expected when they monitor their credit and practice responsible borrowing after discharge.
Take Charge of Your Financial Future in Encino Starting Today
At RHM LAW LLP, we understand the anxiety and stress financial troubles can bring. Our dedicated team is here to support your journey toward financial freedom. We offer a complimentary 30-minute consultation to discuss your options for Chapter 7 and strategize the best path forward tailored to your needs in Encino. With our personalized approach and commitment to client satisfaction, you can trust us to guide you through the complexities of bankruptcy law. Discuss your situation with a Chapter 7 bankruptcy attorney right away.
Contact us at (213) 344-0043 to schedule your consultation. Let us be your partner in reclaiming your financial future. Speak with a qualified Chapter 7 attorney now.
RHM LAW LLP
Meet Our Los Angeles Bankruptcy Specialists
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M. Jonathan Hayes Senior Counsel -
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
Serving Encino, CA Since 2018
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"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.
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"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.
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"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."
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 -
"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 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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"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 -
"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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"Matt and his staff conducted themselves with professionalism throughout the whole ordeal."I worked with Matt and his team for about a year to get through the paperwork shuffle and my personal experience was nothing short of fantastic. Legal situations have a tendency to get hairy, but Matt and his staff conducted themselves with professionalism throughout the whole ordeal. To keep it short, let's just say he under-promised and over-delivered. Rarely would I ever say this about an attorney, but overall he was just a great guy. I would not hesitate to have him on my side of the courtroom again. World market is right across the street from his office and I even decided to get his staff a thank you / holiday gift card. World market has excellent craft beer BTW, try the Einstock White Ale. They also validate parking. That just shows this isn't a fake review.- Dean C.
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"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. -
"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.
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A Summary of Bankruptcy Law: Third Edition
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Summary of Chapter 13
