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Los Angeles Bankruptcy Lawyers / Van Nuys Debt Relief Lawyer

Van Nuys Debt Relief Lawyer

There are many reasons people end up struggling with debt they cannot afford to pay. Rising inflation, job loss, medical expenses, divorce, and more can result in more debt than you can afford. Regardless of why you incurred the debt, it is a very difficult situation to be in. Our Van Nuys debt relief lawyer is well aware of the issues that can lead to devastating debt. We can help you take the necessary steps to resolve the situation and get a fresh start with debt relief solutions.

Debt Settlement

Debt settlement is sometimes an option when you have missed payments, made late payments, or if a creditor has transferred debt to a debt collection company. Debt settlement solutions are more appropriate for unsecured debt, such as medical or credit card debt. You cannot typically settle collateralized debt, such as an auto loan or mortgage.

When all parties generally understand that you cannot afford your current debt obligations, you may be able to settle it. With the help of an attorney, you may be able to negotiate with the debt collection company for a lower amount of debt, a lower interest rate, or lower payment amounts.


If you cannot afford a debt settlement, or your creditors are not willing to negotiate with you, bankruptcy may be the right option. There are many different types of bankruptcy, though, and the one you choose depends on your situation.

Chapter 7 bankruptcy allows you to discharge most or all of your debts, meaning you are not responsible for paying them. Not everyone qualifies for Chapter 7 bankruptcy, though. To qualify, you must pass the means test showing that you do not have the means to repay the debt. If you file Chapter 7 bankruptcy, some of your property may be seized and sold to repay your creditors. However, there are many exemptions that can protect your assets.

If you do not qualify for Chapter 7, you may be able to file Chapter 13 bankruptcy. In this type of bankruptcy, your debts are not discharged but rather, a repayment plan is developed. Your repayment plan will likely extend between three to five years, which can make payments more affordable. After the repayment period, any remaining debt can be discharged.

Why Work with a Debt Relief Lawyer?

It is natural to think that you do not have options if you have a substantial amount of debt, but that is not true. A lawyer can inform you of the many possible debt solutions, and help you determine which one is right for you. A lawyer will also have the necessary experience to negotiate with debt collection agencies so you pay a lower amount. If necessary, a lawyer can also handle every detail of your bankruptcy case, making the entire process less stressful.

Call Our Debt Relief Lawyer in Van Nuys Now

Struggling with debt is very stressful, but you do not have to do it alone. At Wadhwani & Shanfeld, our Van Nuys debt relief lawyer can provide the sound legal advice you need so you have the best chance of a favorable outcome. Call us today at 818-658-2669 or contact us online to schedule a consultation.

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