The Truth About Bankruptcy
Bankruptcy Lawyers in Los Angeles Dispel Myths
Many people do not understand bankruptcy. For an individual, it is not complicated or costly. It is a legal process that enables a person to get out from under an unbearable debt burden and take control of their finances. The good news is, our Los Angeles bankruptcy attorneys can help you separate fact from fiction.
Myth #1: Because the bankruptcy laws have changed, filing for bankruptcy is no longer an option.
Not true. Bankruptcy is still available for most people. While the laws have changed, complete debt relief under Chapter 7 is still possible for many people. If you don’t qualify for Chapter 7, you may still be able to reduce or remove your debts under Chapter 13.
Myth #2: If I file for bankruptcy, I will lose everything I have.
Not true. In most cases, you can keep your house, your car, and most or all of your personal possessions. Filing bankruptcy can protect those assets while reducing or removing your debts from your shoulders. RHM LAW LLP can help you keep your home or car.
Myth #3: After I file for bankruptcy, I will never be able to get credit again.
Not true. You can get credit. In fact, filing bankruptcy is the first step toward rebuilding your credit rating. In as little as 20 months from the time your debts are discharged, your credit rating can improve.
Myth #4: Bankruptcy is an expensive and complicated process.
Not true. RHM LAW LLP makes filing bankruptcy easy. For a simple and convenient flat fee, we can file all necessary papers, and immediately stop foreclosure, repossession, and creditor harassment. Our bankruptcy attorneys in Los Angeles will take care of everything and keep you informed throughout the process. In less than an hour, we can gather the information we need to help you take control of your financial future.
Myth #5: I have huge unpaid tax bills and I’ll never get out from underneath them.
Not true. Tax debt relief is possible with bankruptcy. In many cases, RHM LAW LLP can negotiate with the IRS and California Franchise Tax Board to reduce the taxes you owe, and obtain an extended payment plan on the remainder. This can greatly reduce the taxes you owe, and give you the breathing room you need to make a financial recovery.
Myth #6: Filing for bankruptcy puts you at the mercy of creditors.
Not true. Bankruptcy can actually increase your options by reducing or eliminating unsecured debts and allowing you to take control and begin making orderly payments on your remaining debt. In some cases, you can actually choose which debts are discharged.
If you have more questions, an attorney at RHM LAW LLP can answer them in a free, no-obligation consultation. Our firm serves clients in the Los Angeles area and San Fernando Valley through offices in Encino and Los Angeles.
M. Jonathan Hayes Certified Bankruptcy Specialist
Matt D. Resnik | Managing Partner Certified Bankruptcy Specialist
Roksana D. Moradi-Brovia | Partner Certified Bankruptcy Specialist
W. Sloan Youkstetter | Associate Attorney Certified Bankruptcy Specialist
Russell J. Stong III | Associate Attorney Certified Bankruptcy Specialist
David M. Kritzer Associate Attorney
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.