Most Monterey County families live hand to mouth. Roughly half of the families in Central California cannot afford to pay a $400 emergency expense. They are barely staying afloat. One financial storm, such as a temporary job loss or a divorce, is usually enough to force people under the waves. So, many people are drowning in debt, and their circumstances are usually not their fault.
In times like these, you need a diligent lawyer on your side. That is the kind of lawyer you will find at Miranda, Magden & Miranda, LLP. Beginning from day one, we move your case through California’s highly-complex bankruptcy system. Literally, overnight, angry creditors cease adverse actions, like repossession and foreclosure. As a matter of fact, they cease all communications. Then, at the end of the case, the judge discharges many of your debts. All this relief comes at relatively little cost.
While some people fear that declaring bankruptcy will cause them to lose all their assets, that is purely a myth. In California, most assets are exempt. The trustee (a person who oversees the bankruptcy for the judge) cannot seize exempt assets to pay off the debtor’s outstanding obligations.
The Golden State is an opt-out jurisdiction, so debtors must use California’s rather complex two-tier exemption system. The amounts vary, but the categories are basically the same. Some common Tier One and Tier Two exemptions include:
Both these tiers have pros and cons. For example, the Section 704 homestead exemption is larger, but the motor vehicle exemption is smaller than it is in Section 703. The amount of time the debtor has lived in California may also affect the 703/704 selection.
California’s exemption laws are debtor-friendly, and so are the discharge laws. In most cases, both Chapter 7 and Chapter 13 discharge unsecured debts like:
Some advanced discharge options might be available, as well. Let us return to Tom’s house. Assume he also has a $50,000 home equity line of credit loan in addition to his first mortgage. So, he owes a total of $325,000, but the house is only worth $300,000. As a result, part of the HELOC is unsecured, and the judge may discharge the unsecured portion. That could save Tom hundreds of dollars a month.
Bankruptcy’s fresh start means asset retention and debt elimination. For a confidential consultation with an experienced bankruptcy lawyer in Soledad, contact Miranda, Magden & Miranda, LLP. Initial consultations in Bankruptcy are provided free of charge.
Patricia has been so helpful and provided excellent service. My husband and I are so grateful for all the help she has provided to help me immigrate to the United States. We really could not have gotten through it without her help. A big thank you to Patricia\'s assistant, Ingrid as well for always being prompt with responses and helping us get all the paperwork ready at each stage. I highly recommend Patricia for anyone who needs immigration help.
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..
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