Recent Blog Posts
Bankruptcy Myths Debunked: Facts and Fiction About Chapters 7 and 13
Bankruptcy is a legal process that allows individuals and businesses to deal with their debts when they become unmanageable. While Chapter 7 and Chapter 13 bankruptcies offer valid solutions for many, misconceptions abound, causing unnecessary fear and hesitation. In this post, Los Angeles Bankruptcy Attorneys, Wadhwani & Shanfeld will debunk some common bankruptcy myths… Read More »
Should I Choose Chapter 7 or Chapter 13 Bankruptcy? A Comparative Analysis for Californians
Filing for bankruptcy is a significant decision that requires careful consideration and understanding of the available options. The two primary forms of consumer bankruptcy are Chapter 7 and Chapter 13. Each serves a unique purpose and has distinct advantages and disadvantages. This blog offers a comparative analysis to help Californians understand the two types… Read More »
2023 Bankruptcy Statistics: What You Should Know
Bankruptcy is often perceived as a negative financial event, but in reality, it can provide a fresh start for those struggling with overwhelming debt. In this blog post, we’ll dive deep into the 2023 bankruptcy statistics, comparing them to numbers from two years ago, and discuss the reasons behind the trend and how filing… Read More »
Does Bankruptcy Stop Creditor Calls?
Being in debt can be overwhelming, especially if creditors call you daily to collect your debts. Bankruptcy can be a viable option that helps you get back on track and become debt free. After you file for bankruptcy, those annoying creditor calls should cease immediately. Yet, it’s possible to still receive creditor calls after… Read More »
Understanding Debt Settlement vs. Bankruptcy
When it comes to financial difficulties, debt settlement or bankruptcy can both be capable solutions for getting out of a tough situation. But which one is the best for your particular situation? The answer depends on many factors that a professional should examine before making decisions. Here we’ll look at what each option entails… Read More »
Did the Justice Department Just Make It Easier to Discharge Student Loan Debt Through Bankruptcy?
Late last year, the Department of Justice and the Department of Education unveiled a streamlined process to assist borrowers in having their federal student loans discharged through bankruptcy proceedings. Do These Changes Help Make It Easier to Discharge Student Loan Debt Through Bankruptcy? Prior to these changes, the U.S Congress had set a very… Read More »
Supreme Court Says Bankruptcy Can’t Erase Debt Tied to Fraud
The Supreme Court recently ruled that debtors cannot get out of paying creditors whom they have defrauded, even when they aren’t directly involved in the fraud. This means a debtor can’t escape the consequences of fraudulent activity by filing for bankruptcy. If you think you may have fraudulently obtained debt, here’s what you need… Read More »
Biden Administration Simplifies Discharging Student Loans in Bankruptcy
According to the Wall Street Journal, the Biden administration has released new guidelines for discharging student loans in a bankruptcy. The goal is to simplify the process for economically distressed student loan borrowers. Under these new Justice Department and Education Department guidelines, borrowers are required to prove their economic distress. They can, however, avoid… Read More »
Student Loan Debt: Were Federal Cancellations Enough?
Student loan debt is a growing problem in America. In 2019, the total student loan debt surpassed $1.6 trillion and continues to climb as college costs rise yearly. For many borrowers, this means that their monthly payments take up a large portion of their income, making it difficult for them to put money aside… Read More »
Inflation Rates: Impact on Bankruptcy Filings
The devastating impacts of the COVID-19 pandemic and the current inflation rate have made life increasingly difficult for many Americans. Over the past 12 months, the consumer price index (CPI) has risen by 7%, a figure not seen since the summer of 1982. This level of inflation has significantly impacted people’s ability to keep… Read More »