People in the fastest-growing community in Salinas County are a lot like the people in other parts of Northern California. They work hard but have little long-term financial security. A third of Californians do not have enough money in their checking accounts to cover a $400 unanticipated expense. So, when the financial storms of life hit, such as divorces, job losses, and economic downturns, they hopelessly drown many families under waves of debt.
At Miranda, Magden & Miranda, we offer lifelines to people in these situations. For over 200 years, federal bankruptcy has been a safe harbor from creditors and a way to get a fresh start. Our hard-working professionals are dedicated to these fundamental American principles. Our experienced lawyers are usually able to keep creditors from touching your important financial assets. Furthermore, we give people the tools they need to emerge from bankruptcy on a solid financial footing. After a few years, many of our former clients do not even remember that they filed bankruptcy.
Many people in California struggle with unsecured debt, like credit cards and medical bills. In many cases, one of the aforementioned financial storms disrupted a family’s income stream. That disruption forced them to turn to things like credit cards and payday loans. As a rule of thumb, if your family has more than about $5,000 in unsecured debt, it is impossible to repay without some help.
Chapter 7 bankruptcy eliminates most unsecured debt within a few months. During that time, the Automatic Stay prevents creditors from taking adverse action, such as:
Section 362 of the Bankruptcy Code gives California families breathing room, so they can deal with debt before the situation gets completely out of hand.
Most people qualify for Chapter 7 debt relief. They must take a debt counseling class before filing and a debt management class prior to discharge. Furthermore, their income must be below the California average. As of May 1, 2019, that amount was $96,813 for a family of four.
Other families struggle with past-due secured debt. Generally for reasons beyond their control, they fall behind on things like home mortgage installment payments and auto loan payments. Legally, lenders can begin foreclosure or repossession proceedings after just one or two missed payments.
Through the Automatic Stay, bankruptcy provides immediate relief. Even if the auctioneer’s gavel is about to fall, Chapter 13 immediately stops foreclosure proceedings, in most cases.
But Chapter 13 does more than stop a pending foreclosure. It helps prevent future adverse actions. The wage-earner plan gives families up to five years to catch up on past-due amounts. The repayment plan is income-based. It is not based on what the moneylender demands. Generally, moneylenders must accept this plan because of the Automatic Stay.
There is more good news. At the end of the proceeding, Chapter 13 discharges most unsecured debts. So, Californians can focus on keeping current on their secured debts. Furthermore, the attorneys at Miranda, Magden & Miranda can use advanced options, such as lien stripping, which may save your family thousands of dollars.
Bankruptcy helps California families weather financial storms and put out to sea under calm conditions. For a confidential consultation with an experienced bankruptcy attorney in Seaside, contact Miranda, Magden & Miranda LLP.
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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