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
Chapter 7 Bankruptcy

Los Angeles Chapter 7 Bankruptcy Attorney

Eliminate Debt Through Liquidation

Unpaid debt can lead to serious financial issues, and should be handled with due care and consideration. For many individuals, filing bankruptcy is the best way to resolve debt and start fresh, and our attorneys at Wadhwani & Shanfeld can help you through it.

With over 65 years of legal experience, our firm has the knowledge necessary to guide you through each step of the bankruptcy process, from determining your eligibility to helping you retain important assets. Turn to a bankruptcy firm in Los Angeles you can trust, and rest easy knowing your financial future is secure.

Speak with our legal team and learn all about your financial relief options at 213-550-5090!

Debts That Can Be Discharged

Chapter 7 is the most common form of bankruptcy that provides a way for you to liquidate your assets and receive full forgiveness for outstanding debts.

The debts that can be eliminated through Chapter 7 are called unsecured debts, and may include:

  • Credit card debt
  • Medical bills
  • Personal loans
  • Payday advances

Also called liquidation or straight bankruptcy, Chapter 7 takes as little as four months, and may allow you to retain certain assets, like your home or car. At the end of the case, the court will discharge all qualifying debts.

Chapter 7 bankruptcy is a very straightforward process, and it is usually considered the simplest form of bankruptcy.

Debts That Cannot Be Discharged

There are certain debts that cannot be discharged in bankruptcy.

Debts such as the following are not dischargeable :

  • Child support
  • Student loan debt
  • Alimony
  • Certain tax debts
  • Personal injury debt from drunk driving
  • Debt from fraud
  • Government fines and penalties

Even if you file for Chapter 7, you must continue to repay these debts as they cannot be discharged in any bankruptcy. To learn more about how to manage these debts, talk to an attorney.

Benefits of Chapter 7

Chapter 7 bankruptcy has many benefits that you can take advantage of — and typically it can be completed within a few short months. Here’s what Chapter 7 bankruptcy can do for you:

  • End harassing phone calls from debt collectors
  • In most cases, you can keep your house and car
  • Most household possessions can be protected
  • Eliminate unsecured debt
  • Get a fresh start in a matter of a few months

How to Qualify for Chapter 7 Bankruptcy

Eligibility for Chapter 7 bankruptcy is determined by a means test, which examines a person’s average gross income for the 6 months prior to filing bankruptcy. If someone makes less than the average income of their state, they will qualify for Chapter 7. Those who do not qualify for Chapter 7 are considered capable of repaying their debt through Chapter 13 bankruptcy or another repayment method.

Chapter 7 Bankruptcy Exemptions

For most individuals, the primary concern with filing bankruptcy is whether or not they will lose their home. With Chapter 7, it is possible to retain possession of your house, especially if it is considered an exempt property. You may also be able to retain essential possessions, like cooking utensils, bedding, and even benefits or retirement funds.

Preparing for Your Ch 7 Bankruptcy Consultation

Taking on your own bankruptcy case can be an arduous and stressful task if you are not well-versed in bankruptcy law. The first step is to contact an experienced bankruptcy attorney. Having an attorney on your side gives you the opportunity to get all the facts and questions answered so you can make an informed decision.

Here are some things that may be required to bring to your appointment for your attorney to review:

  • Most recent bank statements
  • Most recent bills from your creditors
  • Car payments (leased or purchased)
  • Medical bills
  • Any judgments/ pending litigations
  • Divorce decree or other documents showing child support/maintenance.

Find Your Debt Resolution, Today

If you think Chapter 7 bankruptcy may be an option for you, contact Wadhwani & Shanfeld to speak with one of our lawyers in Los Angeles. As we begin the process to your financial resolution, we will need to file a petition, along with several forms regarding your properties, income, expenses, and total debts.

Speak with our experienced Chapter 7 bankruptcy attorneys in Los Angeles about your financial options. Contact Wadhwani & Shanfeld.

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

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.