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Bankruptcy

Bankruptcy

The ability to apply for debt relief is a Constitutionally-protected right, meaning it was deemed important enough to enter into the founding principles of our country. The laws of Bankruptcy ensure that there is a way for honest and hardworking people to begin again if life’s circumstances make it impossible for them to climb out of debt. Because Bankruptcy laws and protections are under federal Bankruptcy jurisdiction, most filings are done with the help of a Bankruptcy attorney.

Miranda, Magden & Miranda

Miranda, Magden & Miranda Bankruptcy attorneys are proud of who we help. We focus primarily on Chapter 7 Bankruptcy cases, concentrating on getting those whose income and asset levels qualify for relief under Chapter 7 of the Federal Bankruptcy Code to the rebuilding phase of their lives as quickly and effectively as possible. Our typical Bankruptcy clients include those trapped in questionable lending arrangements prior to the housing collapse, middle-class mothers hit by an uninsured driver coming home from work, laborers that fall short on income despite overtime work, and the family struck by terminal illness, divorce or unemployment. No matter the circumstances that led you to the impossible financial situation you are now in, your Miranda, Magden, & Miranda Bankruptcy attorney can help you begin again.

As foreseen by our country’s founding fathers, the need for hardworking people to have a protected way to start anew, free from debt, and to do so with dignity, is part of who we are. Bankruptcy itself is a legal mechanism that allows an honest person or business to petition the federal courts for a supervised system of relief from the debts that they cannot afford to repay. Bankruptcy courts grant this relief by first ordering an automatic stay (meaning an immediate halt to all collection activity, lawsuits, and foreclosures by creditors) during the Bankruptcy process. With the help of our Bankruptcy attorneys, your case will progress and you will ultimately be granted a discharge order, which eliminates all previously-owed dischargeable debts and gives the petitioner a new financial beginning.

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is the most common and generally the quickest type of bankruptcy, usually finishing within 3 to 4 months of a petition filed by your Bankruptcy attorney. Eligibility for a Chapter 7 Bankruptcy hinges on demonstrating to the court that your income level (adjusted for the size of the family you support) is insufficient to be able to pay back your creditors. The value of your assets must also be considered, as you must make sure that they do not exceed the amount the state of California allows you to protect under its two different Exemption systems.

Luckily, California is among the most generous states in this regard, and the majority of people who qualify for a Chapter 7 Bankruptcy can eliminate all their debts without losing any of their assets. While Chapter 7 Bankruptcy is the most common, in some instances, this will not be the best option for you, and in that case, we will let you know the reasons why and do our best to give you an alternative course of action.

Talk to Our Experienced Monterey County Bankruptcy Lawyers

Miranda, Magden & Miranda is unique in the high level of personal service and attention provided to our clients. We believe this personal service is directly linked to the high confirmation rates our clients enjoy. Once you begin the Bankruptcy process with us, our team will be there to answer questions, guide you both in and out of court, and help you stay on track to complete your Bankruptcy case. Miranda, Magden & Miranda, LLP is a designated Debt Relief Agency. We help consumers file for relief under federal bankruptcy laws designed to protect people like you.

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Call Our Office Today

If you need to file bankruptcy, you will need the assistance of experienced counsel. Our bankruptcy attorneys will help you file for debt relief. Schedule a consultation today.

Bankruptcy

There are laws that allow you to begin again if it becomes impossible for you to climb your way out of debt. Discover whether bankruptcy is right for you.

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