Sherman Oaks, CA (PRWEB) July 13, 2012
Wadhwani & Shanfeld is pleased to announce that we have added Chapter 13 Bankruptcy to our list of specializations. This speciality area expands the services that the law firm already provides, namely Chapter 7 bankruptcy, debt settlement, asset and estate planning, and foreclosure.
Wadhwani & Shanfeld Bankruptcy Attorneys have extensive experience in this legal realm, having filed more than 10,000 bankruptcy cases which helped to give clients a fresh start.
Chapter 13 bankruptcy gives individuals with a regular income the chance to consolidate and repay their debt over time, usually in three to five years. The bankruptcy filing also prevents property foreclosures, wage garnishments and vehicle repossession. By filing Chapter 13, homeowners can get caught up on their mortgage payments, discharge second mortgages, and reduce car payments.
Chapter 13 bankruptcy is governed by federal and state laws. A Chapter 13 reorganization plan must have the approval of a bankruptcy judge and the court manages the repayment plan. The plan is also submitted to creditors for their acceptance or rejection.
The Chapter 13 bankruptcy attorney in Los Angeles will work with clients to develop a reorganization plan to pay back their debts. A client's disposable income, which is the amount of money left over after tallying all expenses, will determine the portion of debt that will be repaid. In some cases, clients who are steeped in unsecured debt, such as credit card bills and medical bills, may be able to eliminate these obligations altogether under a Chapter 13 bankruptcy filing.
If you are asking yourself, "How can I keep a certain amount of my income while paying creditors what is theirs?," we have an affordable Long Beach Bankruptcy Attorney who will meet with you, evaluate the situation and discuss the legal options you have under Chapter 13 bankruptcy protection. An affordable Sherman Oaks bankruptcy attorney can handle your concern over possible repossession of a house, vehicle, or real property.
After developing the plan, attorneys will file the case in bankruptcy court and present the plan to the Chapter 13 Trustee. The trustee makes certain that the client is putting forth an effort to repay debts and ensures that the plan treats creditors in a fair manner.
Our team of lawyers strives to give clients personalized and exceptional service. We have proven a commitment by demonstrating professionalism, knowledge of the Bankruptcy Code, and by having successful relationships with courts and clients.