How Bankruptcy Works
Skilled Bankruptcy Lawyers in Los Angeles Guiding You Through The Process
Deciding to file for bankruptcy is a big decision. Before you take any action, you want to speak to an experienced lawyer so you can understand what you are about to do. At the Los Angeles and San Fernando Valley law offices of RHM LAW LLP, we provide credit counseling to our clients as we guide them through the bankruptcy process.
Call our Los Angeles bankruptcy attorneys at (213) 344-0043 today for a 30-minute risk-free consultation. It could be your first step out of the dark and into the light.
The Beginning
When you step into our offices, the first thing we will do is give you a picture of your estate, both what you owe and what you own. Taking a comprehensive look at your financial situation and goals for the future, we will help you determine which bankruptcy option is right for you.
In order to make this determination, our attorneys will need to review the following:
- 60 days of pay stubs to determine income
- Credit reports to review listed creditors
- Any lawsuits, garnishments or levies against you
Chapter 7 Process
After you file your bankruptcy petition, you will get a hearing in front of a trustee within 30 to 45 days. They will review the documents and determine whether you are eligible for Chapter 7 bankruptcy for consumers.
You will have to undergo a means test as well, which is a mathematical formula based on income, total debts, and other factors. If you pass the means test, you can begin the Chapter 7 bankruptcy process. Within three to four months, your debt will be completely discharged and you will get a fresh start.
Bankruptcy Services
Discover the Right Option for You
- Auto Loan "Cram Downs"
- Bankruptcy & Student Loans
- Short Sale Deficiency
- Bankruptcy Lawsuits
- Bankruptcy Liens
- Bankruptcy Litigation
- California Means Test
- Credit Card Debt
- Discharging Judgements
- Emergency Filings
- Exemptions
- Garnishment
- IRS Tax Relief
- Medical Bill Relief
- Nondischargeable Debts
- Reaffirmation Agreements
- Repossession
- Stop Creditor Harassment
Chapter 13 Process
If you are not eligible for Chapter 7 bankruptcy under the means test or you are able to pay 10 percent of your debt, then you will file for Chapter 13 bankruptcy. By creating a payment plan you can afford, you will get the chance to pay off as much of your debt as possible over a three-to-five-year period, at which point your remaining debt will be discharged.
As the number one filer of Chapter 13 bankruptcy in Los Angeles and the San Fernando Valley, we help our Southern California clients stay in their homes. We can help you stop the foreclosure sale and schedule a hearing within 30 to 45 days. If the bankruptcy process is feasible and you can afford payments, you will get a second hearing in front of a judge three weeks later. If all parties agree to the proposed plan, you will be on your way.
Chapter 13 bankruptcy offers people a way to avoid foreclosure and protect assets they thought they might lose. If you are interested in Chapter 13, we will help you to come up with a plan that works for you.
What Sets Our Firm Apart?
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We are MultilingualOur experienced team of attorneys serves their clients in English, Spanish and Farsi.
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We File Bankruptcy Cases DailyOur Certified Bankruptcy Specialists have decades of combined experience exclusively handling bankruptcies.
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We Are CompassionateWe understand first hand what you are going through, as two of our employees have personally filed for bankruptcy.
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Using a Bankruptcy Attorney Increases Your Chance of AcceptanceOur 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.
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Servicing Los Angeles County and Southern CaliforniaOur top-rated bankruptcy attorneys represent clients that are facing financial crises in Southern California. Our law firm is recognized as the “Home Savers.”
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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.
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We Can Help You Decide if Bankruptcy is Right for YouOur 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.
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Work With a Certified Bankruptcy SpecialistMatt 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.