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Bankruptcy Attorneys Hollister

Bankruptcy Attorneys Hollister

Assisting Clients in Hollister Find Relief through Bankruptcy

United States bankruptcy laws allow consumers and businesses to find financial relief when they can no longer afford to pay their debts. People might face financial struggles for many different reasons, many of which are beyond their control. If you face unemployment, medical issues, legal judgments, failed investments, or other roadblocks, there are options for you to overcome your debt and start with a clean financial slate. You should not wait to discuss your options with our bankruptcy attorneys in Hollister – call the legal team at Miranda, Magden & Miranda, LLP today.

Is Bankruptcy Right for You?

Bankruptcy provides assistance for hundreds of thousands of households each year in the United States, including families from the Hollister area. However, bankruptcy is not the right choice for everyone, and it is important that you have a skilled bankruptcy lawyer evaluate your options.

There are different factors that can determine whether bankruptcy is the right choice, such as:

  • The type of debt you have
  • Whether you have the income to pay your debts
  • Your assets and property
  • Whether other debt-relief options may be successful
  • Whether you are at risk of losing your home

You should be open and honest with our attorneys in your confidential consultation, so we can best identify whether a bankruptcy case is the right avenue for your debt relief. 

Types of Bankruptcy

The next step is to decide which type of bankruptcy is right for you. Consumers generally file under either Chapter 7 or Chapter 13, and these are two very different types of cases.

Chapter 7 – Chapter 7 is commonly called “liquidation bankruptcy,” as you may have to relinquish nonexempt property in order to obtain the discharge of your unsecured debts. Your attorney can provide assistance in applying exemptions to protect the maximum amount of assets and property and can advise you of how much property might be at risk. Chapter 7 is a relatively quick process (often four to six months), and there is no payment plan requirement before your qualified debts can be wiped away. However, if you have too much income or property or you are in danger of losing your home, you might not qualify for Chapter 7, or it may not be the best option.

Chapter 13 – The second-most common type of consumer bankruptcy is Chapter 13, also known as “reorganization bankruptcy.” This type of case will not put your property in jeopardy, but it will require you to enter into a repayment plan with the bankruptcy court for three to five years. You will make a single monthly payment, which the bankruptcy trustee will then distribute to your creditors in order of priority. When you complete the payment plan, your remaining qualified debts can be discharged. 

Contact Our Bankruptcy Attorneys in Hollister Today

At the law firm of Miranda, Magden & Miranda, LLP, our bankruptcy attorneys in Hollister help clients find financial relief through the bankruptcy process. We handle Chapter 7 and Chapter 13 cases, and we can advise you on the best course of action, so contact us today.

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Our experienced family law attorneys at Miranda, Magden & Miranda may be able to help you with your family law, bankruptcy, or immigration case. We serve clients across Monterey, Santa Cruz, San Benito, and Santa Clara counties.

Bankruptcy

There are laws that allow you to begin again if it becomes impossible for you to climb your way out of debt. Discover whether bankruptcy is right for you.

Immigration

We provide our clients with experienced immigration lawyers who are knowledgeable of the law and have the diligence to navigate your case.

Family Law

Our attorneys work in Family Law with the firm understanding that, as custody, general family, and divorce lawyers, we are here to support your loved ones’ best interests.

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Our attorney offices are conveniently located in Monterey and Salinas, California.

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