Helping Clients Find Financial Relief through Bankruptcy
Federal law gives us the right to file for bankruptcy as a method of seeking financial relief from overwhelming debt. There are many different reasons that people in the United States decide to file for bankruptcy, including medical debt, unemployment, failed business ventures, and more. No matter what led to your debt problems, if you are unable to pay your bills, you should discuss the matter with an experienced Salinas bankruptcy attorney.
At Miranda, Magden & Miranda, we help clients determine whether bankruptcy is the right solution to their financial struggles. We can then handle every step of the bankruptcy process to ensure the most positive outcome. Our lawyers are committed to helping clients get back on their feet and take control of their finances, so please call for more information right away.
The first step we take with prospective clients is to evaluate their situation and help them decide whether bankruptcy is the right course of action. In some circumstances, there might be other debt-relief options that are better-suited than bankruptcy. However, if you decide to file for bankruptcy, the next step is determining which type of bankruptcy is right in your case.
- Chapter 7 – Chapter 7 bankruptcy is the most common type of consumer bankruptcy case. This type of case can be resolved relatively quickly and without any repayment requirements. Instead, filers give up nonexempt property (if any) to the bankruptcy trustee in exchange for the discharge of qualified debts. In many cases, our attorneys can apply exemptions in a manner that protects most – if not all – of your property. For this reason, Chapter 7 can be highly beneficial.
- Chapter 13 – Some people do not qualify for Chapter 7 bankruptcy because their income is too high, or they may want to protect nonexempt property. In this case, the primary option for consumers is Chapter 13 bankruptcy, which does require a repayment plan for three to five years before receiving a discharge. However, your attorney can work to ensure your payment is reasonable based on your income and expenses, and this type of bankruptcy can also help to address overdue secured debts, as well, including your mortgage.
Our attorneys work closely with you to make sure you initiate the right type of case, and that all documentation filed with the court is complete and accurate. We work for the discharge of as much debt as possible while helping you keep as much of your property and assets as possible. Our attorneys strive for every client to achieve the maximum possible benefits from the bankruptcy process, and we are ready to assist in your situation.
Consult with a Salinas Bankruptcy Attorney about Your Options
If you are constantly stressed about debts you cannot pay, do not hesitate to call Miranda, Magden & Miranda to speak with a Salinas bankruptcy attorney. Our goal is to help you move forward in the best financial position possible, so please contact us for a consultation to discuss your options today.