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Chapter 7

The preferred option for many, Chapter 7 allows for the complete elimination of covered debt so that filers emerge from bankruptcy with a clean slate, ready to make a fresh start.

Chapter 13

In Chapter 13, you can reorganize all your debts into a single monthly payment on a convenient, affordable plan, and your debts can be adjusted so you only pay what you can afford.

Debt Settlement

Debt settlement is a way to deal with burdensome debt without going through bankruptcy. We negotiate directly with your lender to settle your debt for less than you currently owe.

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Los Angeles Bankruptcy Lawyers

Thousands of individuals and families in Los Angeles, Southern California and statewide have found effective debt relief with the help of the Los Angeles bankruptcy lawyers at Wadhwani & Shanfeld. If you’ve been struggling to get by because of overwhelming credit card debt, unaffordable mortgage payments, personal loans, student loans, medical bills, or tax debt, Wadhwani & Shanfeld has the help you need for real, fast, and effective debt relief. No matter what troubles you are facing, we’ve helped people in your same situation find financial freedom through solutions both inside and outside the bankruptcy process. Contact our experienced Los Angeles bankruptcy lawyers right now and start getting the help you need right away.

Why Wadhwani & Shanfeld?

  • Board-Certified Specialists in Bankruptcy Law
  • Quick response to your urgent need for help
  • Top quality attorneys personally handling your case and working directly with you
  • Decades of experience completing thousands of cases with great success and client satisfaction
  • Warm and welcoming offices throughout Southern California
  • We can handle cases completely remotely for clients throughout California
  • Call now and get an attorney on the phone right away

Bankruptcy Solutions to Crushing Debt and Financial Stress

Throughout the history of our country, bankruptcy law has provided individuals and families with a safety valve to keep them from financial ruin when they’ve gotten in over their heads with debt. That safety valve is U.S. bankruptcy law, and it’s nothing to be ashamed of. It’s even written in the Constitution! Bankruptcy is a real, effective solution to overwhelming debt, and you are well within your rights to take advantage of the protections that bankruptcy offers.

  • Chapter 7 – Eliminate credit cards, personal loans, medical bills, auto loan deficiencies, certain tax debt, and certain student loan debt. Chapter 7 provides a fresh start and a clean slate. Our bankruptcy experts can help you protect your valuable property while getting rid of the major sources of debt that are keeping you up at night with worry or hounding you during the day due to harassment from your creditors.
  • Chapter 13 – Chapter 13 can help you save your home from foreclosure and force your mortgage lender into a long term repayment plan. You can also use Chapter 13 to adjust your debts to an amount you can afford, with extra time to pay them off comfortably as you continue to regain control of your finances. Chapter 13 can also allow you to pay back certain liabilities which are not dischargeable in chapter 7, such as priority taxes, support obligations or other non-dischargeable obligations.

Have You Been Sued or Had Your Account Sent to Collections? It’s Not Too Late to Get Help!

Just because you have been sued by a creditor law firm, this is not a reason to give up or despair. Far from it. Now is the time to act by calling a well-respected bankruptcy law firm like Wadhwani & Shanfeld. We’ll file a bankruptcy petition that imposes an automatic stay on any collections or legal proceedings, including lawsuits and foreclosures. We move swiftly and take action to protect you and get results.

If you are being sued by Hunt & Henriques, Reese Law Group, Patenaude & Felix, or any of the other major law firms that represent creditors in Southern California, call Wadhwani & Shanfeld for practical, strategic advice and immediate assistance responding to the lawsuit and dealing with it in an effective, proactive manner.

Los Angeles Bankruptcy FAQs

Question: Will my credit tank after filing for bankruptcy?

Answer: Yes. The exact size of the drop will depend on your credit history. Most people who file for bankruptcy have multiple accounts in collection, have defaulted on debts, and have high credit utilization. Their scores are already in the 400s. But others have managed to stay on top of debts (with difficulty) and have a score in the 700s. You can expect your score to crash more than 300+ points with a bankruptcy. But it’s possible to rebuild credit.

Question: How long does a bankruptcy stay on my credit report?

Answer: It depends on the bankruptcy. A chapter 7 stays on for 10 years; a Chapter 13 stays on for 7 years. The negative effect lessens with time, however.

Question: What debt can I get rid of in bankruptcy?

Answer: Bankruptcy doesn’t eliminate everything. For example, some debts are excluded by the bankruptcy code, such as family law obligations (child support and alimony). Other debts excluded include drunk driving tickets or a court judgment based on drunk driving. However, you can eliminate many types of unsecured debts, like medical debts, personal loans, and credit cards.

Question: Can I eliminate my mortgage payment?

Answer: You can eliminate your mortgage debt in a Chapter 7. However, the security interest in the property survives, which means your lender can still foreclose if you stop paying.

Question: Will I lose my home if I file for bankruptcy?

Answer: It depends. You might lose your house if you file for Chapter 7 and there is equity in the home that you can’t exempt. In that case, the trustee might force a sale and distribute equity to your creditors. You can avoid a sale by filing for Chapter 13.

If you can exempt the equity, then it’s a question of whether you are current on your mortgage. If not, then the lender can foreclose on the property. However, you might catch up or file for Chapter 13 which gives you more time to pay back unpaid mortgage debt.

Question: Can I have a paralegal or a notary file bankruptcy for me?

Answer: They can certainly help you fill out the forms. You provide the information, and they can type it in. But they can’t provide legal advice, and they aren’t up to date on bankruptcy law.

Get Help From a Skilled Los Angeles Bankruptcy Attorney, Call Now

Solutions are available for the financial stress you are dealing with, so don’t spend another sleepless night in worry. Call Wadhwani & Shanfeld now for a complimentary consultation to get the information you need, including instant, immediate help. We don’t waste your time pushing you to schedule an appointment or in-office consult; you can call now and get an attorney on the phone right away. If you do wish to visit one of our many Southern California office locations, we welcome you, but we are equally comfortable handling your entire case through telephone, email, online chat, and other remote, electronic means. Call now to speak to an experienced Los Angeles bankruptcy lawyer and get started today getting the help you need.

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Frequently Asked Questions Get Answers To Your Questions About
Bankruptcy And Debt Reduction
  • Will my employer find out I filed for bankruptcy?

    Your employer will not automatically be notified if you file for bankruptcy. Unless you tell them, there is no reason they will find out about it, except in certain circumstances. For instance, your employer could find out about your bankruptcy in the following situations:

    • If you owe your employer money for some reason, they are a creditor who will be notified of the bankruptcy.
    • If your wages are currently being garnished to pay debts, a bankruptcy filing puts an automatic stay on that garnishment. Your employer will be notified about the stay and ordered to stop garnishing your wages, so they’ll find out about your bankruptcy that way.
    • If you file a Chapter 13 bankruptcy, the repayment plan might include wage deductions to go toward the plan. This is for your benefit to help you stick to the plan, but your employer would become aware of the bankruptcy when ordered to make the deductions.

    Even if your employer does find out you filed for bankruptcy, that fact should not get you fired or subject you to otherwise unfavorable job treatment. If you become the subject of some adverse job action after filing and think you are being unfairly treated, a labor and employment lawyer might be able to help you.

    If you are applying for a new job and have a bankruptcy on your record, this fact will come to light if the employer runs a credit check. Government employers are not permitted to use a bankruptcy against you in making a hiring decision, but private employers are not prohibited from doing so.

  • Can I save my property if I file for bankruptcy?

    Yes! One of the biggest worries we hear from people who have heard the word “liquidation” in connection with bankruptcy is the fear that all of their property will be seized and sold to pay their creditors as part of the bankruptcy process. Chapter 13 does not require you to relinquish any property at all, and in Chapter 7, the bankruptcy trustee can only take assets that are “non-exempt.” We work diligently through the entire list of available exemptions, and in almost every case we handle, our clients don’t lose any of their property as a result of filing for bankruptcy. They do lose most or all of their debt, though!

  • How much of my wages could get garnished by a creditor?

    A creditor with a court order in hand can seek to garnish your wages to cover what you owe them. They can take a pretty big bite out of your wages, but there are limits. Under federal law, creditors cannot garnish more than 25% of your disposable income or the amount of your disposable income that is over 30 times the federal minimum wage. California provides even stronger consumer protections. Here, creditors are limited to 25% of your disposable income or half the amount of disposable income that is over 40 times the California minimum wage (or the local minimum wage if higher than the state minimum). It’s also possible to get an even bigger exemption in California based on a showing of need.

    Filing for bankruptcy invokes an “automatic stay” on all debt collection, including wage garnishments. Wage garnishments stop as soon as you file for bankruptcy, and if the debt behind the garnishment is dischargeable, bankruptcy can make the garnishment go away for good.

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  • What if I previously filed for bankruptcy and need to file again?

    Although bankruptcy can be a great solution to get you out of present financial difficulties, it’s not uncommon that some people later find themselves back in financial trouble. You can file for bankruptcy even if you have done so previously, subject to limitations. After a Chapter 7 discharge, you would have to wait four years to file for Chapter 13 or eight years to file another Chapter 7. After completing a Chapter 13 repayment plan, you would have to wait two years to file for Chapter 13 again or four years to file for Chapter 7.

  • How can I get a bankruptcy removed from my credit report?

    Unfortunately, only the passage of time will take a bankruptcy off your credit report, despite any claims to the contrary from so-called “credit repair” companies. By law, a Chapter 13 bankruptcy stays on your credit report for seven years, while a Chapter 7 bankruptcy stays on your credit report for ten years. That said, you can still start repairing and rebuilding your credit even while the bankruptcy is on your record.

  • Which is better, bankruptcy or debt settlement?

    A lot of factors go into answering that question, including the number of creditors you have and the amounts you owe, who your creditors are, your overall income and expenses, what kinds of property you own, and more.

    We can answer that question for you after we have talked to you and learned about your personal situation. So call us now, and talk to an attorney now to answer your questions and address your concerns.

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If you are in over your head with credit card bills, mortgage payments, personal loans or other debts, you are likely stressed out over the situation, and rightly so. But a lot of worry and anxiety in this situation comes from not knowing your options or what you can expect to happen.

What Clients Are Saying Success Stories In Their Own Words
“I will not hesitate to recommend this firm and Raj to all my family and friends”

From the very first contact, this firm gave me a good impression. It was the only firm that answered the phone! I said, "this one´s it! They´re serious. They want to work!!" so, from the very beginning I was sold.

Lucy C.
“Would recommend to anyone.”

Very professional, helpful. Would recommend to anyone.

Jose P.
“5 stars”

5 stars very very helpful. walked me through filing .

Joan B.
“Very professional”

Very professional, easy process and always available to answer questions, Thank you

Ikram Kacem N.
“I would give them 100 stars if possible”

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 G.
“Wadhwani & Shanfeld was very professional and always answered my questions. We are so grateful for them.”

Wadhwani & Shanfeld was very professional and always answered my questions. We are so grateful for them.

Christopher & Jillian W.
“Thanking Attorney Raj for a thorough and quick solution to my financial issues.”

Thanking Attorney Raj for a thorough and quick solution to my financial issues.

Bernardita A.
“His service was very professional, quick and effective. I highly recommend this firm.”

I filed bankruptcy with the help of Atty. Greg Shanfeld. His service was very professional, quick and effective. I highly recommend this firm. I am extremely grateful for their service.

Benito M.
“Raj and his staff were very knowledgeable and professional. I appreciate all the help and service you all have given…”

Raj and his staff were very knowledgeable and professional. I appreciate all the help and service you all have given to me. Thank you!

Stacy W.
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Meet Your Legal TeamDedicated To Helping You Get Back On Your Feet After A Financial Crisis
Raj Wadhwani Raj WadhwaniShareholder

Raj is a founding shareholder of Wadhwani & Shanfeld. Raj earned his Juris Doctor from Southwestern University School of Law. He also became a Board-Certified Bankruptcy Specialist by the American Board of Certification in 2009. His vast bankruptcy experience includes over 7,000 bankruptcy case filings for both consumers and businesses. In 1998, Raj helped pilot the Best Case Bankruptcy Software which is used today by bankruptcy attorneys throughout the country. Raj also participated in the pilot program and had the distinction of being the first attorney to electronically file a bankruptcy case in the Central District of California. Beyond bankruptcy and debt settlement, Raj is also very experienced in estate planning. In his spare time, Raj enjoys spending time with his wife and two sons, playing golf, and cheering on the Los Angeles Lakers.

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Greg Shanfeld Greg ShanfeldShareholder

Greg is a founding shareholder of Wadhwani & Shanfeld. He earned his Juris Doctor law degree from the University of Southern California School of Law. Prior to law school, he graduated from the University of California, Los Angeles, with a B.A. in Economics. Greg specializes in bankruptcy law and debt settlement and is a Board-Certified Bankruptcy Specialist with the American Board of Certification. His previous work experience includes serving as a partner and managing attorney at a leading bankruptcy law firm. Prior to that, Greg worked an associate attorney in the real estate division at Stern, Neubauer, Greenwald & Pauly. Greg is extremely knowledgeable about bankruptcy law and has published articles and taught seminars on the subject. When Greg is not in the office, he enjoys spending time with his family, mountain biking, and playing basketball. He also enjoys attending Los Angeles Kings games.

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