Lakewood Bankruptcy Lawyer
If you’re facing overwhelming financial challenges in Lakewood, CA, understanding your options for debt relief is crucial. At Wadhwani & Shanfeld, we provide compassionate and effective guidance for individuals and families considering bankruptcy. Whether you’re exploring Chapter 7 bankruptcy, Chapter 13 bankruptcy, or alternatives like debt settlement, our experienced Lakewood bankruptcy lawyer team is here to help you regain control of your finances.
Common Types of Bankruptcy
Chapter 7 Bankruptcy
Known as “liquidation bankruptcy,” Chapter 7 allows individuals to discharge most unsecured debts like credit cards and medical bills. This option is ideal for those with limited income and minimal assets. Benefits of Chapter 7 include:
- A relatively quick process, often completed in three to six months.
- Immediate relief from creditor harassment and wage garnishments.
- Elimination of most debts, offering a fresh financial start.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, also referred to as “reorganization bankruptcy,” is suitable for individuals with steady income who want to protect valuable assets. It involves creating a repayment plan to pay back debts over three to five years. Benefits include:
- Catching up on missed mortgage or car payments.
- Protecting your home from foreclosure.
- Consolidating debts into manageable payments.
Debt Settlement
For those seeking a non-bankruptcy alternative, debt settlement can be a viable option. It involves negotiating with creditors to settle your debts for less than the full amount owed. While it doesn’t offer the same protections as bankruptcy, it can be effective for reducing overall debt in specific situations.
The Bankruptcy Process in Lakewood, CA
The bankruptcy process may seem daunting, but with Wadhwani & Shanfeld by your side, you’ll receive guidance every step of the way.
- Initial Consultation
We start with a free consultation to assess your financial situation and determine the best debt relief solution for your needs. - Filing Your Petition
If bankruptcy is the right choice, we’ll file your case with the court. This filing initiates an automatic stay, stopping collection actions, foreclosures, and wage garnishments. - 341 Meeting of Creditors
As part of the process, you’ll attend a 341 Meeting of Creditors where a trustee reviews your case. Our attorneys prepare and represent you during this critical step. - Repayment or Discharge
- Chapter 7 results in the discharge of qualifying debts after liquidation of non-exempt assets.
- Chapter 13 requires you to follow a court-approved repayment plan before discharging remaining debts.
- Post-Bankruptcy Support
Once your case is resolved, we provide resources and strategies to rebuild your credit and regain financial stability.
Serving Throughout Lakewood
Lakewood is a vibrant community with diverse neighborhoods. Here are the ten most popular areas where residents thrive:
- Mayfair
- Lakewood Village
- Carson Park
- West Lakewood
- East Lakewood
- South of Conant
- Lakewood Country Club Estates
- Del Amo Woods
- Lakewood Estates
- Mutuals
Whether you live in a bustling area like Mayfair or a serene neighborhood like Lakewood Village, financial hardships can impact anyone. Wadhwani & Shanfeld can help you overcome these challenges with expert legal guidance.
How Wadhwani & Shanfeld Can Help
As trusted Lakewood bankruptcy lawyers, Wadhwani & Shanfeld have helped countless individuals and families find relief from overwhelming debt. Here’s what sets us apart:
- Tailored Solutions: We assess your unique circumstances and provide a personalized plan to resolve your financial issues.
- Experienced Representation: From filing bankruptcy petitions to protecting your assets, we ensure your rights are upheld throughout the process.
- Compassionate Support: We guide you through the bankruptcy process with care and respect, offering practical advice for rebuilding your financial future.
If you’re facing financial challenges in Lakewood, CA, don’t wait to seek help. Contact Wadhwani & Shanfeld today for a free consultation and take the first step toward a brighter financial future.
