Lancaster Bankruptcy Attorneys
Advocating for You When It Matters Most
Our Lancaster bankruptcy lawyers at Wadhwani & Shanfeld have been providing elite representation to our clients for over 65 years. We understand the nuances of debt relief cases due to our extensive experience in the field. Since we founded our practice, we have helped over 20,000 satisfied clients.
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- Working with a Board Certified Bankruptcy Specialist
- Words from a Satisfied Client
- Why We Are the Right Choice
Call (800) 996-9932 today to learn more about your options!
Both of our attorneys received their board certification in bankruptcy from the America Board of Certification – a rare distinction in this field of law. We have both the track record and the credentials to back up our commitment to helping the clients pursue a better financial future.
We can guide you through the entire bankruptcy process, including:
- Recommending which bankruptcy option is right for you
- Helping you fill out all bankruptcy paperwork
- Negotiating with creditors, and protecting you from creditor harassment
- Appearing at creditor meetings with a bankruptcy trustee
- Ensuring the process complies with the law
How Does Bankruptcy Provide Financial Relief?
Filing for bankruptcy can provide much-needed relief to those struggling with insurmountable debt. When you file for bankruptcy, all collection activities must stop immediately, including debt-collection lawsuits and wage garnishments. In addition, any interest charges on the debts included in your bankruptcy filing will stop. Finally, depending on the type of bankruptcy you file for, many of your unsecured debts will be discharged and/or consolidated and reorganized, making them more manageable for you to pay back.
Should I File for Chapter 7 or Chapter 13?
Two main types of bankruptcies are available to individuals: liquidation (Chapter 7) and reorganization (Chapter 13). A Chapter 7 liquidation allows you to wipe away most unsecured debt, such as medical bills and credit cards, through a process called discharge. A Chapter 13 reorganization allows you to keep most of your assets while paying off certain debts over time at a more manageable rate than before filing. Depending on which type of bankruptcy best fits your situation, both can offer significant financial relief from overwhelming debt.
Quick Facts About Chapter 7 Bankruptcy:
- Is frequently referred to as liquidation bankruptcy
- To qualify for Chapter 7, your average household income must be below the state’s median
- After liquidation, remaining unsecured debts are usually discharged
If you are considering Chapter 7 bankruptcy, it is important to remember that there is a risk of losing valuable property during the liquidation process. For example, if you own any large assets with high equity in them, such as a house, it may be lost during liquidation. That said, you may qualify for liquidation exemptions and should consult with our attorney before moving forward with a Chapter 7 filing.
Quick Facts about Chapter 13 bankruptcy:
- Is frequently referred to as reorganization bankruptcy
- You do not have to pass a means test to qualify for Chapter 13
- Debts are consolidated, and you are provided with a repayment plan that is designed to be more manageable
- Repayment plans typically run for three to five years
- Provides liquidation protection for large assets
To find out which type of bankruptcy filing you qualify for or which option is best for your situation, contact our Lancaster bankruptcy attorneys for help.
Which Debts Can Be Discharged Through Bankruptcy?
The type of debt discharged depends on which chapter of bankruptcy you file under. Generally speaking, many unsecured debts, such as medical bills, credit card debt, personal loans, etc., can be discharged through either Chapter 7 or Chapter 13 bankruptcies. However, secured debts, such as mortgages and car loans, cannot usually be discharged but instead are dealt with through liquidation and/or debt consolidation and reorganization.
Certain types of debts are considered non-dischargeable, such as those associated with domestic support obligations, like alimony and/or child support orders. These obligations must be paid regardless of any other circumstances. Most tax obligations (local, state, and federal) are also considered non-dischargeable.
Should I Work with an Attorney While Filing for Bankruptcy?
For many people, bankruptcy can feel like a daunting and overwhelming process. After all, bankruptcy is a legal action with long-term consequences. It affects your credit score and may impact your ability to obtain future credit at a favorable rate. That is why seeking out the help of an experienced bankruptcy attorney is so important. Not only can they guide you through understanding bankruptcy law and navigating the bankruptcy process, but they can also help you decide which type of bankruptcy filing to pursue—whether it's Chapter 7 or Chapter 13 bankruptcy—and provide the necessary guidance and support during this challenging time.
Working with our experienced Lancaster bankruptcy attorneys gives you the best opportunity to move forward with confidence and security. Keep reading to learn more about how our law firm can help you.
"Like everyone else, I had a debt problem and was afraid of asking anybody for help. I finally decided to go in bankruptcy and I came across Wadhwani & Shanfeld. They were very professional in explaining step by step the process of a bankruptcy. They explained how long the process was going to take and next thing I see was a discharge letter by mail from the judge. I'm very happy with the result, I would definitely recommend them to my family and friends."
- We provide true experience. Our Lancaster bankruptcy lawyers have helped file thousands of bankruptcy cases, assisting with solving a wide range of debt related matters.
- We are committed to unique, personalized approaches. Our firm works hard to take the time to get to know our clients, and craft individual solutions for their needs. When it comes to debt relief, we don't subscribe to the concept of a "one size fits all" answer.
- We work individually with our clients. Each client works directly with a partner at the firm. We don't hand off casework to inexperienced staff members or paralegals. You will work closely with, and have access to, all of our professionals to maximize your case's potential.
- We have a stellar reputation in our community. Our firm has an A+ accreditation from the Better Business Bureau and is the trusted source of effective bankruptcy solutions.