When people have incurred large amounts of debt, including mounting medical bills, credit card debt, or student loan debt, for example, they may not know where to turn or what to do – especially when other debt relief options have not worked. In these types of cases, filing for Chapter 7 bankruptcy may provide you the opportunity that you need to wipe away your debt and start rebuilding your credit with a clean slate.
Filing for Chapter 7 bankruptcy is not the right move for everyone. However, the experienced debt relief attorneys in Monterey County at Miranda, Magden & Miranda, LLP, can review your financial circumstances and determine if filing for Chapter 7 bankruptcy may be right for you. Please reach out to us online for more information about how we can help you file for Chapter 7 bankruptcy.
Chapter 7 bankruptcy is the process by which a debtor’s nonexempt assets are liquidated – or sold – and the proceeds of the sale go to the debtor’s creditors. There are several potential advantages associated with filing for Chapter 7 bankruptcy. One advantage is that following a liquidation sale, most – if not all – of your remaining debts may be subject to discharge.
Another potential advantage is that there are certain assets that a person may have that are exempt from Chapter 7 and that the debtor may be able to keep. Those assets typically include clothing and other personal belongings, jewelry, equity in a motor vehicle, household furnishings, appliances, retirement assets, insurance policies, and personal injury and workers’ compensation case income.
When you hire an experienced debt relief lawyer in Monterey County, he or she will work hard to help you keep as many of your assets as possible.
Although there are some advantages associated with Chapter 7 bankruptcy proceedings, there are certain detriments as well. First, filing for bankruptcy can do significant damage to your credit, and it will take time for you to rebuild your credit (although you will be doing so with a clean slate).
In addition, there are some types of debts that a person may incur that are not subject to discharge in bankruptcy (called non-dischargeable debts). Those debts include child support and alimony liens, tax liens, certain personal injury debts, student loans, and certain criminal restitution debts, among others.
Given the complicated nature of Chapter 7 bankruptcy cases, it is important that you have experienced legal counsel on your side every step of the way, in the event you decide to file for Chapter 7 bankruptcy.
The experienced attorneys at Miranda, Magden & Miranda, LLP, can assist you with each and every step of your debt relief plan, including possible Chapter 7 bankruptcy proceedings. For a legal consultation or case evaluation with an experienced debt relief attorney in Monterey County, please contact us online today for more information.
This law firm made sure they got every single detail to my case. You could tell they truly care about their clients and doing everything they can to win your case. Truly professional and caring people!
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..
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