Southern California Chapter 7 Bankruptcy Attorney
Choosing the Ideal path to financial freedom
Our lawyers have helped file more than 10,000 bankruptcy cases. We have more than 40 years of collective experience and a reputation in the Southern California community for aggressive advocacy and informative counsel. Don't hesitate to obtain the professional assistance you need to get your finances back on track.
Examine your options in detail: Call Wadhwani & Shanfeld today to speak with our team and get a free case evaluation. When you call or sit down with a member of our knowledgeable team, we can help you discover which debt relief solution is suited to your needs.
We Provide Practical, Customized Debt Relief Solutions
Chapter 7 bankruptcy is the most common form of bankruptcy that allows the filer to achieve financial freedom from debt in the most efficient manner possible by eliminating unsecured debts. Debt is considered "unsecured" if it is not attached to a material form of collateral.
Examples of unsecured debt include:
- Credit card debts
- Medical bills
- Personal loans
- Payday advances
Chapter 7 bankruptcy offers many benefits, such as enabling you to clear your debt in as little as four months. While Chapter 7 bankruptcy is beneficial because it is the quickest and easiest option for a debt-free future, not everyone can qualify.
Am I eligible to file Chapter 7 bankruptcy?
Also known as "straight" or "liquidation" bankruptcy, Chapter 7 bankruptcy can only be filed by individuals who pass the qualifying means test. This test was established by the United States Congress in 2005 and is designed to weed out individuals who have the financial capability to repay their debts under the Chapter 13 bankruptcy repayment plan option.
In order to be pass the means test, you must demonstrate that you cannot afford to repay your debt. First, the means test compares your income to the median income of the same household size in your county. If your income is lower than the median income, you pass the means test. But, we are able to qualify many of our clients whose income is higher than the median income.
There are many factors that can influence your eligibility for Chapter 7 bankruptcy, so we encourage you to contact our Southern California bankruptcy attorneys to learn more whether you qualify and if is the right choice for you.