Individuals who accumulate large amounts of debt, including medical or credit card debt, often become frustrated quickly. Certain types of extended repayment plans can offer debtors some relief. However, when those types of plans are not enough, Chapter 7 bankruptcy proceedings may offer the necessary solution.
Bankruptcy proceedings can be extremely difficult to navigate on your own. If you are contemplating filing for Chapter 7 bankruptcy, the Castroville debt relief lawyers at Miranda, Magden & Miranda, LLP, may be able to assist. We can review all of your debts and financial circumstances with you and help you determine whether filing for Chapter 7 bankruptcy may be a viable solution. Reach out to us today to find out more about how we could assist you with your bankruptcy proceedings.
Chapter 7 bankruptcy proceedings are also commonly known as liquidation. A person may be eligible to file for Chapter 7 bankruptcy if he or she has accumulated a significant amount of debt. As part of these proceedings, certain property – known as nonexempt property – owned by the debtor is sold off in order to pay the debtor’s creditors. Once that has been done, the majority of the debtor’s outstanding obligations are discharged as part of the bankruptcy proceeding.
There are certain types of property and assets, known as exempt property, that the debtor may be able to keep and may not be sold as part of the bankruptcy proceedings. These types of exempt property often include personal assets, like household furnishings and appliances, clothing, jewelry, retirement plans, income from a personal injury or workers’ compensation case, insurance policies, equity in a motor vehicle, among other assets.
There are certain types of debt that are not dischargeable by way of a Chapter 7 bankruptcy proceeding. Those types of non-dischargeable debt include, but are not limited to, alimony debt, child support arrears, certain taxes, debts incurred from criminal restitution, student loan debt, and certain types of personal injury debt.
In a Chapter 7 bankruptcy proceeding, a lawyer’s role is extremely important. Given the complexity of Chapter 7 bankruptcy proceedings, a lawyer can explain the process to you step by step, ensuring that you fully understand everything that is going on. Your lawyer will also work to minimize the assets that have to be sold in order to pay off creditors and help you keep as many of those assets as possible.
Not all debtor-creditor situations require Chapter 7 bankruptcy. However, the process can allow a debtor the opportunity to discharge all of his or her remaining debts and the opportunity to start from scratch. The experienced legal team at Miranda, Magden & Miranda, LLP, can help you decide if a Chapter 7 bankruptcy is right for you. For a legal consultation or case evaluation with an experienced Castroville debt relief attorney, please contact us online today for more information.
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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