Guiding You Through the Bankruptcy 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 Simon Resnik Hayes LLP, we provide credit counseling to our clients as we guide them through the bankruptcy process.
Call 888.368.4099 or contact us on-line for a free consultation. It could be your first step out of the dark and into the light.
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 paystubs 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.
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, than 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.
For a free initial consultation about filing for bankruptcy with Simon Resnik Hayes LLP, call 888.368.4099 or contact us online. Our offices are open weekdays from 7 a.m. to 7 p.m. and we serve clients in the Los Angeles area and San Fernando Valley through offices in Sherman Oaks and Los Angeles.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.