Here in Salinas, families are just as vulnerable to divorce, job loss, and other financial emergencies as they are everywhere else. Most banks are impatient in these situations. Legally, most banks may repossess vehicles and begin home foreclosure proceedings after just one missed payment. Additionally, the Supreme Court recently removed some important consumer protections from the Fair Debt Collection Practices Act. In this legal environment, many creditors think they cannot lose.
These moneylenders have not encountered the tough lawyers at Miranda, Magden & Miranda. Our bankruptcy attorneys in Salinas immediately file paperwork to stop foreclosure, lawsuits, and other adverse actions. Then, we tirelessly work to erase some debts and give families the additional time they need to make catch-up payments on other debts. As a result, our clients get the fresh financial start they deserve.
The oddly-named “liquidation bankruptcy” eliminates unsecured debts, like credit cards and medical bills. High credit card interest usually creates a snowball effect. As families struggle to pay credit card debt, they fall behind in other areas. Medical bills usually go to aggressive debt-buyers sooner than other kinds of debt. As mentioned above, these moneylenders often use borderline criminal techniques to collect debts.
Chapter 7 probably should not be nicknamed liquidation because most people keep most or all of their assets. With an experienced bankruptcy attorney, the only thing they lose is unsecured debt. California has generous bankruptcy exemption laws that protect things like:
In many cases, debtors can also protect things like in bank accounts and even vacation homes or boats.
If their household income is below the state average, debtors usually qualify for Chapter 7. Truthfully, if their income is much higher, bankruptcy may not be a good idea.
The wage-earner plan works a bit differently. This type of bankruptcy is best for people who can pay their debts, but they cannot pay them straight away, and they need a repayment plan.
Chapter 13 gives families up to five years to catch up on delinquent secured debt, such as home mortgage and auto loan payments. Additionally, Chapter 13 offers some advanced options, such as lien stripping and property redemption, that may make these assets more affordable over the long term. Options like these are only available through a bankruptcy attorney in Salinas.
Additionally, Chapter 13 eliminates most kinds of unsecured debt. That may even include obligations like past-due income taxes.
Under California law, most debtors may convert from Chapter 13 to Chapter 7, or vice versa, with court approval. The conversion option gives a bankruptcy attorney in Salinas additional flexibility.
For example, some people convert from Chapter 13 to Chapter 7 if they cannot maintain the monthly debt consolidation payment. So, these families get their fresh starts sooner. Other debtors convert from Chapter 7 to Chapter 13. This option is a good idea if you are very far behind on secured debt and need more time to catch up.
Most families have several available bankruptcy options. For a confidential consultation with an experienced bankruptcy attorney in Salinas, contact Miranda, Magden & Miranda LLP. Home and after-hours visits are available.
Thank you Miranda and team for the excellent service provided. Miranda is a compassionate, understating, extremely knowledgeable and professional attorney. Her team was always on top of everything making my legal process less stressful. I could never thank Miranda and her assistant Ingrid for holding my hand throughout this difficult process (literally). Miranda is one of the BEST immigration lawyers ever! I would definitely recommend her.
They represented my custody case and handled it like it is their own case and they are best in Monterey County.
The entire team at MMM are superstars! I appreciate all the time and prep that went into my original case many years ago. And now recently, I asked for some help on a follow-up custody matter that I felt I could handle myself but just needed their expertise to properly represent all the important details. They are knowledgeable, extremely thorough, and prepared me for every possible scenario. I can't thank them enough!
My partner and I sought legal advice on bringing my fiance' to the United States with this office after having called a few immigration attorney offices around Monterey County. Having never sought legal advice before it was a refreshing experience in which we both really felt that Patricia listened intently to our goals and needs, and then not only gave us thorough advice, but also she really showed a lot of empathy with our situation and all the challenges we faced in what we trying to do. I would definitely recommend this office for anyone who is unclear about what..
Working with Patricia was a professional encounter unlike any other, an absolute 5-star experience. From the first moment, we walked into our consultation until the moment our case was closed and my husband walked away with his permanent resident card Patricia was communicative, professional, and thorough. Her team contacted us every step of the way providing valuable process and law changes we would not have been able to catch if we tried to navigate this endeavor alone. Patricia answered our endless question stream with thoughtfulness and care, calling us countless times to ensure we were clear on every piece of..
Last year, I had just moved in the area and needed a family law attorney for a custody case. The process of finding/choosing an attorney could be daunting. However, when I went in for my first consultation with Levi my stress level was immediately mollified. He was personable, which made me feel comfortable to discuss my personal matters freely. I had a lot of questions of the legal process that would take place and he took the time to explain everything with meticulous detail. More importantly, when I called Levi he returned my phone calls in a timely/professional time frame...
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