For much of its history, Marina was closely associated with Fort Ord. This facility dates back to the 1840s Mexican-American War, and it saw extensive use during World War II. So, core military values, like seizing the initiative and taking control of the situation, are deeply ingrained in Marina. Both Chapter 7 and Chapter 13 bankruptcy accomplish these goals in the debt relief context. Both of these options offer immediate and long-term solutions which make a big difference to families in Monterey County.
At Miranda, Magden & Miranda, our Marina, CA bankruptcy lawyers work hard to find the proper solution that fits your family’s needs. We aggressively advocate for you in court when overaggressive creditors try to undermine your legal and financial rights. We also know how to negotiate with these creditors when necessary, to achieve a lasting and beneficial solution for our clients.
Bankruptcy’s Automatic Stay in Monterey County
As soon as most people file their voluntary bankruptcy petitions, Section 362 of the Bankruptcy Code goes into effect right away. This important cornerstone of bankruptcy law halts all creditor adverse actions, such as:
- Wage garnishment,
- Harassing phone calls, and
Moneylenders may only bypass the Automatic Stay if the bankruptcy judge grants special permission. Such permission is almost impossible to obtain, especially since you have a Marina, CA bankruptcy lawyer in your corner.
In a few cases, the Automatic Stay may only apply for a limited amount of time or may be unavailable.
Repayment and Discharge in California
The Marina, CA bankruptcy lawyers at Miranda, Magden & Miranda know how to work the system to achieve results.
Debt discharge means that the debtor no longer has a legal obligation to repay the debt. In both Chapter 7 and Chapter 13, the judge discharges most unsecured debt, like:
- Payday loans,
- Medical bills, and
- Credit cards.
The collateral consequences of debt often remain. For example, if a school withholds a transcript over unpaid tuition, the judge may discharge the debt, but a Marina, CA bankruptcy attorney must work with the school to release the transcript. That is where the aforementioned negotiation skills come into play.
Secured debts, like home mortgages, work a bit differently. To allow the owner to retain the collateral, Chapter 13 gives debtors up to five years to pay off any arrearage. So, when the bankruptcy is over, the owner has a zero past-due balance, and the moneylender may take no adverse action based on unpaid amounts.
Team Up with a Tenacious Lawyer
Bankruptcy stops adverse action and helps families pay off, or eliminate, their debt. For a confidential consultation with an experienced Marina, CA bankruptcy lawyer, contact Miranda, Magden & Miranda LLP. Convenient payment plans are available.