Author Archives: Site Administrator
What Happens to Nonexempt Property in a Chapter 7 bankruptcy?
When an individual files for Chapter 7 bankruptcy, it allows them to achieve financial freedom in the most efficient manner by eliminating unsecured debts. In California, people get to keep certain property that is exempt from bankruptcy. However, not all assets are protected under bankruptcy law. Our Los Angeles bankruptcy attorneys explain what happens… Read More »
Bankruptcy 101: Your Car in Chapter 13 Bankruptcy
Keeping Your Car Through Chapter 13 Bankruptcy Filing for bankruptcy can seem like a scary process because people fear losing assets, such as their car. However, filing for bankruptcy doesn’t necessarily mean that a person will lose all their prized possessions. If you want to get rid of overwhelming debt, but you want to… Read More »
How to Improve your Credit Score After Bankruptcy?
Many people have the misconception that it will be impossible to repair their credit after bankruptcy, but that is far from the truth. Bankruptcy stays on your credit report for seven to ten years, but its impact on your credit will reduce as time goes on. Until then, you can start taking steps to… Read More »
Can Bankruptcy Lawyers Help Me with a Debt Settlement?
You’re drowning in debt and wondering what you can do to get back on your feet. You’ve seen commercials and mailers offering debt settlement services from companies, but have you ever considered reaching out to a bankruptcy lawyer? Your first question might be, “Can bankruptcy lawyers help me with a debt settlement?” And the… Read More »
Is It Better to File for Bankruptcy Before Getting Married?
If you’ve recently decided to tie the knot, the last thing you may want to think about is money problems and piles of bills. However, it is vital for couples to discuss financial struggles before getting married, especially if one of them is dealing with overwhelming debt. Bankruptcy can allow you to eliminate all or… Read More »
What Should You Not Do Before Filing Bankruptcy
When dealing with overwhelming debt, it is tempting to do whatever it takes to finally get rid of financial problems. However, what many people don’t know is that what you do before filing for bankruptcy could significantly impact your approval rate. Our Los Angeles bankruptcy attorneys explain what you shouldn’t do before filing for… Read More »
How Many Years Do You Have to Wait Before Filing Bankruptcy Again?
Unfortunately, a financial crisis can occur more than once in our lives. If you find yourself dealing with overwhelming debt again, you might be seeking relief once more. Bankruptcy laws do allow you to file for bankruptcy again, but you must meet specific requirements. Our Los Angeles bankruptcy attorneys explain what requirements you need… Read More »
Does Filing Bankruptcy Clear All Debt?
If you are dealing with overwhelming debt, you might be considering bankruptcy to get a fresh start. Bankruptcy can be a powerful tool because it can stop creditor harassment, debt-related lawsuits, foreclosure, and more. However, bankruptcy wasn’t built to eliminate all types of debt. Which Type of Debt Can Bankruptcy Eliminate? Bankruptcy can eliminate… Read More »
California Homestead Exemption Increases in January 2021
On September 15, 2020, California Governor Gavin Newsom signed Assembly Bill 1885 into law, effectively increasing the homestead exemptions throughout the state. The previous homestead exemption laws followed a baseline of $75,000, whereas this new law increases the exemption to $300,000. The new law better reflects the costly housing market throughout the state and… Read More »
Top 7 Bankruptcy Myths Debunked
The term “bankruptcy” has a negative connotation for many people because they have the misconception that bankruptcy can do more harm than good. However, bankruptcy helps hundreds of thousands of people across the country obtain financial freedom. Below, our team at Wadhwani & Shanfeld has debunked the most common myths surrounding bankruptcy. Myth #1:… Read More »