Leventhal Law Group, P.C.
Warner Center Towers
21550 Oxnard Street, 3rd Floor
Woodland Hills, CA 91367
Leventhal Law Group, P.C., in Woodland Hills, California, serves clients in the San Fernando Valley area. Communities include Northridge, Van Nuys, North Hollywood, Encino, Santa Clarita, Valencia, Palmdale, Lancaster, Mission Hills, Thousand Oaks, Simi Valley, Calabasas, Canoga Park, Chatsworth, Porter Ranch, Reseda, Tarzana, Malibu and counties that include Los Angeles County and Ventura County.
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Bankruptcy Reform: Can I Still File?
San Fernando Valley Lawyer
What Does Bankruptcy Reform Mean For Me?
Many people believe that they can no longer file bankruptcy as a result of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The good news is that the vast majority of people can still file bankruptcy — either Chapter 7 or Chapter 13. The bad news is that fewer people qualify for Chapter 7 because of the implementation of a means test to qualify debtors for this type of bankruptcy protection.
At my Los Angeles-
Changes in Bankruptcy as a Result of the 2005 Act
When discussing bankruptcy reform with clients, I talk about issues such as these:
- People contemplating bankruptcy must complete a government-
approved credit counseling program within six months of filing. - People hoping to file Chapter 7 — liquidation bankruptcy — must now take a means test to determine their eligibility.
- People must submit federal tax returns as evidence of income. If they have not paid taxes, they must do so before proceeding.
- The automatic stay is less comprehensive than before — certain legal actions, such as eviction, driver's license suspensions, and legal actions for unpaid child support are no longer stayed by bankruptcy filings.
- Back child support and alimony take precedence over other debt.
- Debtors must take government-
approved financial management education classes. Their debts cannot be discharged until they have completed a program.
Despite bankruptcy reform, Chapter 7 and Chapter 13 are excellent options for people overwhelmed by debt. Debtors can wrap up their debts and begin again.
Contact the Leventhal Law Group, P.C.. Call my Woodland Hills, California, office
at 818-
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.