In light of the current health crisis, we are happy to offer free telephonic consultations. Should you choose to retain our services, we can easily handle the bankruptcy process via telephone and email. We hope that everyone remains safe and healthy during these unprecedented times.
Bankruptcy Attorneys Serving Southern California
Short Sale

Paying Off Debt with a Short Sale

Call Debt Settlement Law Experts at 800-996-9932 Today

Short-selling is a financial procedure in which a debtor sells their real estate at below market value to settle a debt, usually at a smaller amount than what is owed to creditors. The difference between money owed and the proceeds of the short sale is known as the “deficiency.” In California law, any deficiencies must be forgiven by the lender. Therefore, short selling can immediately rescue debtors from crippling financial pits. Short sales are a strong alternative to foreclosure because it results in a better return for the lender while mitigating costs for both parties.

However, short sales conducted without guidance can often fall through. Lenders often make approval of a short sale a lengthy process, taking anywhere from six weeks to six months. Sellers frequently give up or are forced to move on to a quicker, less-effective solution. Even if a short sale is approved, unwary sellers may face sizable taxes on the forgiven debt because “forgiven debt” is considered taxable income by the IRS. Skilled lawyers can help you avoid the various penalties and pitfalls associated with short selling.

Why Is Our Firm Qualified to Help You?

  • Our attorneys are both certified bankruptcy specialists.
  • Our team has helped thousands of people and businesses.
  • We develop custom solutions that utilize the full depth of experience.
  • We handle all paperwork and keep track of deadlines for you.

Our firm Can Help Set You Free from Debt

Our debt-settlement attorneys can serve you with 65 years of collective skill, experience, and expertise. Whatever the depth of your financial trouble, our law firm is effective at clearing away large loans, setting our clients free from the grip of lenders and creditors. Our tenacity outmatches every creditor we have met, allowing us to help clients unshackle themselves from enormous debt. In short, we are fiercely determined to find the solution that is perfect for you. We've already helped thousands reach financial freedom—see if we can help you.

If you are being suffocated by mounting loans, reach out to the Los Angeles bankruptcy lawyers at Wadhwani & Shanfeld today!

Client Testimonials

We've Helped Over 20,000 Satisfied Clients
  • “Very professional, helpful. Would recommend to anyone.”

    - Jose Portillo
  • “5 stars very very helpful. walked me through filing .”

    - Joan Bevis
  • “Very professional, easy process and always available to answer questions, Thank you”

    - Ikram Kacem Nsiri
  • “Wadhwani & Shanfeld was very professional and always answered my questions. We are so grateful for them.”

    - Christopher & Jillian West
  • “I very much liked Raj and his staff and I would give them 100 stars if possible. I was kept informed and very happy with the end results. Thanks again...Steve”

    - Stephen Grossman
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Why Choose Wadhwani & Shanfeld?

The Right Attorney Can Make A Difference
  • Invaluable Bankruptcy Insight

    Attorneys Raj Wadhwani and Greg Shanfeld are Board-Certified Bankruptcy Specialists who leverage their insight on behalf of clients. 

  • Hands-On Guidance

    Our legal team does all of the work for you, including filing paperwork, keeping track of deadlines, and providing protection from creditors.

  • Experience Where it Counts

    Our attorneys have over 65 years of collective experience helping clients in a broad range of bankruptcy and debt settlement cases.

  • A Prolific Record of Success

    Our firm has successfully helped more than 20,000 people put the pieces of their lives back together after a bankruptcy.

Begin Putting the Pieces Back Together

If you're struggling with debt, the most important thing you can do is hire the right attorney. At Wadhwani & Shanfeld, we have successfully filed over 12,000 bankruptcy cases and helped over 20,000 people get back on their feet.