After the fourth quarter of 2019, consumer debt in America was $14.15 trillion, as per the New York Federal Reserve. For the 22nd consecutive quarter, consumer debt increased. For numerous reasons, debt can be extremely difficult to overcome. Whether you cannot afford your house, have too much credit card debt, or are never going to be able to pay off your medical debt, bankruptcy might be the logical choice.
Whether you are drowning in debt, on the verge of losing your home, or simply want a fresh start from your financial woes, it’s time to reach out to a Salinas bankruptcy attorney to discuss your options.
A Chapter 7 bankruptcy is a legal route to getting out from under most of your debts. It is through this process that the court will determine if you have assets to liquidate to pay your creditors some of what is owed to them. Under the U.S. Bankruptcy Code, some of your assets will be exempt from liquidation. If you have secured debts that you would like to keep, such as a house or a vehicle, you should speak to your Salinas bankruptcy attorney to determine if this makes sense for you.
Some types of debts do not qualify for forgiveness through bankruptcy. Examples include:
A Chapter 7 bankruptcy is a smart choice for many Americans, but it only makes sense under certain circumstances. A Salinas bankruptcy lawyer can examine the specifics of your financial situation. They can then advise you as to whether filing bankruptcy could help you or not. A Chapter 7 bankruptcy is often a good idea for debtors who:
It is important to note that filing bankruptcy will go on your credit report. However, in many cases, debtors’ credit scores improve after filing bankruptcy as many of their debts are erased from their records. Your bankruptcy will remain on your credit report for ten years from the date that your bankruptcy was discharged, which is usually about 90 days from the date of filing.
If your debts are causing problems and feelings of hopelessness, reach out to one of our Salinas bankruptcy lawyers today for a free bankruptcy consultation. The attorneys at Miranda, Magden & Miranda, LLP serve clients in the counties of Monterey, Santa Cruz, San Benito, and Santa Clara. We help bankruptcy clients achieve the brighter future they are looking for. If you are ready to find out how bankruptcy could help your financial situation, contact us to schedule your private consultation.
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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