If you are struggling with crushing financial debt, do not let life pass you by. Debt can affect more than your checkbook. It can take a toll on your health, leave you depressed, and even affect your marriage. In fact, financial problems are often some of the biggest factors in divorce. At Miranda, Magden & Miranda, LLP, we understand the value of a clean slate. If you qualify, you may be able to start over and erase much of your debt. Give us a call to find out your options.
There are several kinds of bankruptcy. For businesses, restructuring often makes sense. For higher income people and those with significant assets to protect, such as a home, a scheduled repayment plan (Chapter 13) may make sense. If you are looking to erase debt and start over, a Chapter 7 bankruptcy is the way to go. In Chapter 7 bankruptcy, you will likely need to give up many of your secured assets, although you will have certain exemptions that you are allowed to keep.
As a general rule, a federal bankruptcy court in California will let you keep basic material necessities for doing your job, staying in school, or taking care of your family. So, your primary vehicle, your home, and job-required tools may be subject to exemption, if you know how to ask.
Since you are going bankrupt, you are essentially telling creditors that you cannot pay and will not pay. Therefore, it is going to damage your credit badly at first. If you wish to keep an asset, such as a car, the creditor may want the debt to be reaffirmed. This is a contract that says if you are unable to pay, you cannot discharge that particular debt in the future through bankruptcy. This gives the creditor more certainty. Other creditors (many in California) will not require you to sign a reaffirmation agreement and instead allow you to “pay and retain” on your vehicle after a bankruptcy. Come consult with an experienced Bankruptcy attorney to make sure you choose the right option for you.
Under federal law, domestic support obligations cannot be discharged in a bankruptcy. Now, there are specific exceptions to this rule. Property distribution orders can, at times, be included in your bankruptcy, but payments for child support and maintenance (alimony) are almost never allowed. These obligations may be reduced through family court, but the bankruptcy court will not discharge them.
At Miranda, Magden & Miranda, LLP, we help debtors seek the fresh start they deserve. Call us today to see if we can help you file for Chapter 7 bankruptcy.
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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