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Leon Bayer
About | Practice Areas
Bayer Wishman & Leotta
1055 Wilshire Blvd Suite 1900 Los Angeles, CA 90017» view map
Bankruptcy & Debt
Experience, Affordability, & Expertise

The Los Angeles bankruptcy lawyers of Bayer Wishman & Leotta have successfully represented clients in the Los Angeles area for over 37 years. Bankruptcy is all we handle.

800-942-4591
1. Leon Bayer Los Angeles, CA
  Attorney at Law - CA, 1979
  San Fernando Valley College of Law
2. AboutBayer Wishman & Leotta
  88 Years of Combined Experience
3. Practice AreasExpertise
  Bankruptcy & Debt
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Alexander T Gruft

Admiralty & Maritime, Corporate, Credit & Debt, Products Liability

Status: In Good Standing Licensed: 22 Years

CONTACT

1515 Palisades Dr, Pacific Palisades, CA 90272

Neil Michael Sunkin

Real Estate Other, Litigation, Lawsuit & Dispute, Business, Credit & Debt

Status: In Good Standing

CONTACT

22908 Gershwin Dr, Woodland Hills, CA 91364

Joshua P Friedman

Commercial Real Estate, Litigation, Contract, Credit & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

23679 Calabasas Rd, Calabasas, CA 91302

Mike H. Raichelson

Foreclosure, Credit & Debt, Bankruptcy, Corporate

Status: In Good Standing

FREE CONSULTATION

CONTACT

6400 Canoga Avenue, Woodland Hills, CA 91367

Eric Sapir

Litigation, Employee Rights, Credit & Debt, Medical Malpractice, Contract

Status: In Good Standing Licensed: 12 Years

CONTACT

22440 Clarendon St, Calabasas, CA 91367

Kevin Mair Badkoubehi

Commercial Real Estate, Litigation, Corporate, Credit & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

5850 Canoga Ave, Calabasas, CA 91367

David Payab

Employee Rights, Corporate, Credit & Debt, Personal Injury

Status: In Good Standing

CONTACT

5850 Canoga Ave, Calabasas, CA 91367

John David Laurie

Sexual Harassment, Insurance, Credit & Debt, Medical Malpractice

Status: In Good Standing

CONTACT

21550 Oxnard St, Calabasas, CA 91367

Sharon Coverly Hughes

Litigation, Trusts, Business, Credit & Debt

Status: In Good Standing

CONTACT

21700 Oxnard St, Woodland Hills, CA 91367

Daniel J. Weintraub

Litigation, Dispute Resolution, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

12121 Wilshire Boulevard, Los Angeles, CA 90025

800-923-0641

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LEGAL TERMS

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

SAMPLE LEGAL CASES

Komarova v. National Credit Acceptance, Inc.

... This lawsuit arises from the efforts of defendant National Credit Acceptance, Inc., to collect a consumer debt from plaintiff Anastasiya Komarova that she did not owe. ... The plaintiffs there, like plaintiff here, were pursued for payment of a credit card debt they did not owe. ...

Dey v. Continental Central Credit

... K. Dey appeals a judgment of dismissal entered after the court sustained without leave to amend the demurrer of Continental Central Credit (Continental) and ... et seq.) Dey contends he stated a cause of action based on a fee defendants charged him to collect a debt he owed a ...

Liceaga v. Debt Recovery Solutions, LLC

... Despite her pleas to the agency that she was a victim of identity theft and had no Sprint account, they appear to have disbelieved her and ultimately reported her "default" to several credit reporting agencies, without advising that the debt was contested, thus harming her credit ...

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Topanga Credit & Debt Lawyer, California

Sponsored Law Firm

Bayer Wishman & Leotta

SPONSORED LAWYERS

Alexander T Gruft

Neil Michael Sunkin

Joshua P Friedman

Mike H. Raichelson

Eric Sapir

Kevin Mair Badkoubehi

David Payab

John David Laurie

Sharon Coverly Hughes

Daniel J. Weintraub

TIPS

LEGAL TERMS

SOLE PROPRIETORSHIP

BANKRUPTCY

C CORPORATION

FORBEARANCE

IRS EXPENSES

BANKRUPTCY TRUSTEE

ACCORD AND SATISFACTION

LIABILITY

CURRENT MONTHLY INCOME

SAMPLE LEGAL CASES

Komarova v. National Credit Acceptance, Inc.

Dey v. Continental Central Credit

Liceaga v. Debt Recovery Solutions, LLC

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