Marina Bankruptcy Attorney

Helping Clients in the Marina Area through the Bankruptcy Process

Federal law recognizes that sometimes, people or companies in the United States might need financial relief from overwhelming debt. Whether you lost control of your debts due to medical bills, unemployment, or other factors, it can be difficult to regain control of your finances. For some households, the best solution in this situation is to file for bankruptcy according to federal law. 

If you need debt-relief assistance and would like to explore your options, you should speak with a Marina bankruptcy attorney right away. Our legal team at the law firm of Miranda, Magden & Miranda, LLP, regularly assists clients with bankruptcy to help them start with a fresh financial slate. Contact us to schedule a consultation today. 

Determining the Best Option for You

Each financial situation is different, and there might be less drastic options than bankruptcy that can help you catch up with your payments and reduce your debts. We can evaluate your situation and advise whether or not you are a good candidate for bankruptcy. If you decide to move forward with bankruptcy filings, the next step is to decide what type of bankruptcy case you should file. 

We will go over the details of your financial picture, including:

• Your household income and expenses
• The type of debts you owe
• Your assets and property
• Whether your home is at risk of foreclosure
• Whether your car is at risk of repossession

Most consumers will file for bankruptcy under Chapter 7. This is referred to as the “liquidation” bankruptcy as you exchange your nonexempt property for the swift discharge of qualified debts. Our lawyers know how to make the best use of exemptions under the law to protect as much of your property as possible, and some people do not relinquish any property at all. Often, you can receive a discharge in six months or fewer. 

Chapter 13 bankruptcy is a longer process, though it can be beneficial in certain situations. This type of consumer bankruptcy requires you to enter into and complete a payment plan with the bankruptcy trustee for three to five years prior to receiving your discharge. However, your property and assets are not at risk. Chapter 13 can be the right option if you:

• Have too much income to qualify for Chapter 7 bankruptcy
• Have extensive nonexempt property and assets you want to protect
• Need assistance stopping foreclosure or repossession

No matter what type of case you decide to file, our Marina bankruptcy lawyers will be there to help you every step of the way. We prepare all court filings and documentation, represent you in court hearings and meetings with the trustee, and work to ensure you obtain a successful discharge.

Contact a Marina Bankruptcy Attorney for More Information

At Miranda, Magden & Miranda, LLP, our goal is for our clients to succeed financially, which can require filing for bankruptcy. We can assist you in taking control of your finances, so please do not hesitate to contact us for a consultation today.