Inglewood Bankruptcy Lawyer
If you are struggling with overwhelming debt in Inglewood, CA, understanding your options for bankruptcy and debt relief is critical to regaining financial stability. Wadhwani & Shanfeld, a trusted bankruptcy law firm, provides personalized assistance to individuals and families facing financial challenges. Whether you are considering Chapter 7, Chapter 13, or alternatives like debt settlement, our Inglewood bankruptcy lawyers can help you navigate the bankruptcy process effectively and make informed decisions.
Common Types of Bankruptcy
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is a process where a debtor’s non-exempt assets are sold to repay creditors. This option is ideal for individuals with little to no disposable income who need a fresh start. Key features include:
- Discharge of most unsecured debts, including credit cards and medical bills.
- Quick resolution, typically within three to six months.
- Protection from creditor harassment through an automatic stay.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, also called “reorganization bankruptcy,” allows individuals to create a repayment plan to pay back debts over three to five years. This option is suitable for those with regular income who want to:
- Keep valuable assets like a home or car.
- Catch up on missed mortgage or car payments.
- Consolidate debts into a manageable payment plan.
Debt Settlement
Debt settlement is a non-bankruptcy alternative where you negotiate with creditors to settle your debts for less than what you owe. While not as comprehensive as bankruptcy, it can be a viable option if you have fewer creditors or a single significant debt.
The Bankruptcy Process in Inglewood, CA
- Consultation and Assessment
During your initial consultation with Wadhwani & Shanfeld, we’ll assess your financial situation, income, and debts to recommend the best course of action. - Filing the Bankruptcy Petition
If bankruptcy is the right choice, we prepare and file the necessary paperwork with the court. This filing triggers an automatic stay, halting creditor actions like wage garnishments and foreclosures. - Meeting of Creditors
You’ll attend a 341 Meeting of Creditors where the bankruptcy trustee reviews your case. Our attorneys will prepare you for this step and represent you throughout. - Discharge or Repayment
- In Chapter 7, eligible debts are discharged after liquidating non-exempt assets.
- In Chapter 13, you follow the repayment plan approved by the court.
- Post-Bankruptcy Guidance
After your case is resolved, we offer tools and advice to help you rebuild your credit and achieve long-term financial stability.
How Wadhwani & Shanfeld Can Help
At Wadhwani & Shanfeld, our dedicated attorneys bring decades of experience in bankruptcy and debt relief to clients in Inglewood and the surrounding areas. Here’s how we can support you:
- Personalized Solutions: We take the time to understand your unique financial challenges and tailor our recommendations accordingly.
- Expert Representation: From filing bankruptcy petitions to negotiating with creditors, we handle every aspect of the process with professionalism and care.
- Comprehensive Support: We help with credit counseling, budgeting, and post-bankruptcy strategies to set you up for future success.
If you’re feeling overwhelmed by debt in Inglewood, CA, contact Wadhwani & Shanfeld today for a free consultation. Let us help you take the first step toward financial freedom.
