There are millions of people across the United States who are struggling to pay their bills each month. Once you fall behind on payments, it can be very difficult to catch up again. If you experience unexpected unemployment, you might need to rely on credit cards for basic expenses, only causing the debt to pile up more. If you or a family member suffers an unexpected medical condition, you could face thousands and thousands of dollars in medical bills, even with insurance.
The good news is that you do not have to live with crushing debt. Instead, contact a Monterey bankruptcy attorney for assistance.
Many people are anxious about filing for bankruptcy, as they believe that it will ruin their credit forever or represent some type of personal failure. In reality, bankruptcy is a legal process that allows people to obtain a fresh financial start, and many people who file for bankruptcy are in a much better financial position than they were prior to filing.
The primary benefit of filing for bankruptcy is the discharge of debt. When debts are discharged, it means that the debtor is under no legal option to pay them back. Some of the more common debts that can be discharged in bankruptcy include:
Another benefit of filing for bankruptcy is the automatic stay, which takes effect the moment you file. The automatic stay prevents your creditors from taking any collection actions against you while your bankruptcy case is pending. This means that as soon as you file, all the phone calls, letters, and other collection attempts will soon cease. In addition, any lawsuits, foreclosures, or attempts at repossession must stop as well.
In Chapter 7 bankruptcy, all of your non-exempt assets will be liquidated by the bankruptcy trustee before you can obtain a discharge of your debts. This means that any assets that are not covered by an exemption can be seized and sold off in order to pay off your creditors. Fortunately, there are significant exemptions for various categories of property, including real estate, vehicles, work tools, bank accounts, and others. In fact, most Chapter 7 bankruptcies are “no-asset” bankruptcies, which means that the person who filed did not have any non-exempt assets reachable by the trustee. This means that they were able to obtain a discharge of their debts without having to give up any of their personal assets.
If you are in debt and do not see a way out, bankruptcy may be able to help. To speak with an experienced bankruptcy lawyer in Monterey, call Miranda, Magden & Miranda, LLP, or contact us online.
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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