Seaside, CA Bankruptcy Attorneys 

Helping Residents of Seaside, CA File Chapter 7 Bankruptcy Proceedings

It can be very difficult to decide whether or not you should file for Chapter 7 bankruptcy in California. In general, you should not make the decision to file for bankruptcy until you have exhausted all other alternatives and spoken with an attorney.

One of the best benefits to Chapter 7 bankruptcy is that it can bring an end to stressful communications from debt collectors and can help you on the road to rebuilding your credit. If you are considering filing for Chapter 7 bankruptcy, the Seaside, CA, bankruptcy attorneys at Miranda, Magden & Miranda, LLP are here to help.

Our knowledgeable legal team will start by reviewing your financial circumstances and can help you decide if Chapter 7 bankruptcy may be a workable option for you. Please give us a call today to learn more about how we can assist you throughout the bankruptcy process.  

When Should You Consider Chapter 7 Bankruptcy?

First and foremost, you should generally not consider filing for Chapter 7 bankruptcy unless and until you have explored other debt-relief options if they are feasible with your level of income, assets and debts. If you do not own a home or any other large-value assets, a Chapter 7 bankruptcy proceeding might be to your advantage, and you should consider going that route. Even if you do own property, the right attorney might be able to protect your property in a Chapter 7 case, as is most often the case in California. You might also consider Chapter 7 if you have a large amount of unsecured debt, including medical bills and credit card debt, to your name. 

Some common advantages associated with filing for Chapter 7 bankruptcy in California include the following

• You have the possibility of eliminating unsecured debts in their entirety.
• The process is generally less expensive when compared with other available methods of debt elimination. The only fees that a debtor will need to pay when filing for Chapter 7 bankruptcy include legal fees and any court costs associated with the bankruptcy court filings or proceedings.
• The Chapter 7 process tends to be much faster than other methods and does not typically drag on for many months or years on end. 

Eligibility for a Chapter 7 bankruptcy is based on income. If you earn too much, you may not be eligible to proceed with a Chapter 7 bankruptcy. A Seaside, CA, bankruptcy attorney can determine if you are eligible to proceed with a Chapter 7 bankruptcy. If so, your lawyer will be able to help you decide if declaring bankruptcy is worth doing, given both your financial and personal circumstances. 

How Does a Chapter 7 Bankruptcy Case Work?

An appointed bankruptcy trustee is responsible for overseeing Chapter 7 bankruptcy proceedings. In addition to overseeing the case, a bankruptcy trustee will review all of the case paperwork and sell the debtor’s nonexempt bankruptcy property – or property that a debtor does not have a legal right to protect under the federal Bankruptcy Code. Some debtors do not have nonexempt assets, and when that is the case, the creditors will not be eligible to receive anything, and debtors retain all their property. 

Speak to a Knowledgeable Seaside, CA, Bankruptcy Attorney about Your Legal Matter Today

The knowledgeable team of bankruptcy attorneys at Miranda, Magden & Miranda, LLP, can assist you with every aspect of your Chapter 7 bankruptcy case. To schedule a free case evaluation and legal consultation with our Seaside, CA, bankruptcy attorneys, please contact us to discover more about how we can help.