When an individual, or debtor, files for bankruptcy, he is getting a chance for a fresh start. Bankruptcy provides relief for a debtor under federal law in which certain debts can be discharged and certain assets can be kept. A Salinas bankruptcy lawyer can assist in navigating the complex federal and state laws involved when a debtor decides to file for bankruptcy.
When the debtor is an individual with mostly personal debts, and not debts related to a business, Chapter 7 bankruptcy will likely be the type of bankruptcy for which he will file. Chapter 7 bankruptcy allowed a debtor to find relief through the liquidation of his assets. Liquidation involves the selling of certain assets, known as non-exempt assets, and using the cash from the sales to pay off creditors. When all non-exempt assets have been liquidated, the remaining debts will be discharged, and the debtor is released of personal responsibility for the debts.
Not everyone is eligible to file for Chapter 7 bankruptcy. Generally, it is those who earn below a certain income or those without the disposable income to pay expenses who will be deemed eligible. Eligibility is determined via a means test, and a bankruptcy attorney can help a debtor to determine if he passes this test.
Most debts that remain after the liquidation of non-exempt assets will be discharged. This means that a creditor will not be able to further pursue the debtor to collect on a debt. However, not all debts are subject to be discharged. Child support debts, spousal support and alimony debts, damages owed for personal injury actions in which the debtor caused injury to another as a result of driving under the influence of drugs or alcohol, and fines and penalties owed to government agencies will not be discharged.
If you would like to initiate a bankruptcy proceeding, you should consult with a bankruptcy lawyer. The lawyer will gather information regarding your income, expense, debts, and creditors owed, and file a petition for Chapter 7 Bankruptcy. You will want to provide documents such as income tax returns and pay stubs, as well as a list of creditors and assets. Once your petition is filed, the court will issue an automatic stay preventing creditors from attempting to collect payment for debts.
The court will assign a bankruptcy trustee who will sell your non-exempt assets to pay off creditors. You will also be required to complete a credit counseling course and a bankruptcy course during the process. Once you provide the court with a certificate of completion of the bankruptcy course, your qualifying debts will be discharged.
If you think filing for Chapter 7 bankruptcy is right for you, the bankruptcy lawyers at Miranda, Magden, & Miranda, LLP are here to help. Our professionals understand that bankruptcy can be a confusing and stressful process. Schedule a consultation and find relief by visiting our website today.
Patricia has been so helpful and provided excellent service. My husband and I are so grateful for all the help she has provided to help me immigrate to the United States. We really could not have gotten through it without her help. A big thank you to Patricia\'s assistant, Ingrid as well for always being prompt with responses and helping us get all the paperwork ready at each stage. I highly recommend Patricia for anyone who needs immigration help.
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..
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