Debt Relief Attorneys Salinas
Federal law understands that people can sometimes run into financial difficulties for whatever reason. Regardless of how this happened, the law protects everyone just the same. You have the ability to obtain legal relief from your debt when you file for bankruptcy. For many people, it is the best option.
Federal Law Helps You By Giving You Debt Relief
For many people, the decision to file for bankruptcy is not one that they easily make. Some may feel a moral obligation to pay their debts, while others may think that there is a negative stigma to bankruptcy. We understand how and why you would feel that way, but there was a reason why the laws were written to help debtors.
The policymakers did not want you to be trapped in a cycle of debt, nor should you want to remain there yourself. When you sit down to speak with us, we focus on how we can help you out of your financial problems and get the fresh start to which you are legally entitled.
Chapter 7 bankruptcy is a relatively quick option for you to obtain some debt relief. You can be done with the process in as little as three months. Meanwhile, you may not have to surrender all, or any, of your assets to get debt relief. When the process is complete, you can begin to repair your credit and get yourself on a more sound financial footing knowing that you do not have sky-high monthly debt payments with growing interest hanging over your head.
The Criteria for a Chapter 7 Bankruptcy Filing
In order to file for Chapter 7 bankruptcy, you must meet the following criteria:
- You must qualify under a means test measuring your ability to repay your debt.
- You are an individual, couple, or small business.
- You have not had a recent bankruptcy or dismissal of a bankruptcy case.
- You undergo a credit counseling program.
While not everyone qualifies for Chapter 7 bankruptcy, you should definitely consider it if you are eligible and cannot repay your debts. For many people, it is the best alternative because you can discharge many of your debts.
Debt Relief By Stopping Creditor Phone Calls
The first way that you get debt relief from a bankruptcy filing is that creditors can no longer call or contact you to collect debts the minute you file. There is an automatic stay in place that freezes everything for the duration of the bankruptcy proceeding.
Since not everyone can qualify for a Chapter 7 and your paperwork needs to be right, you should hire a debt relief attorney to advise you on your particular situation. If your process goes through seamlessly, you can get some room to breathe and the ability to make a fresh start financially.
Contact Our Debt Relief Attorneys in Salinas
If you find yourself trapped in an endless cycle of debt and do not know how to get out, get in touch with the lawyers at Miranda, Magden & Miranda, LLP. Contact us today to schedule your initial consultation to learn how our Salinas debt relief attorneys can help you.