Thomas F. Miles, Attorney and Counselor at Law
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November 2014 Archives

Common myths surrounding personal bankruptcy

Most consumers who are going through a time of financial stress are not fully informed about their options for moving beyond such a challenge. This is especially true when it comes to personal bankruptcy, and many people hold a range of false beliefs about the bankruptcy process. The following information is provided in the hopes of giving California consumers a better understanding of what bankruptcy is, and what it is not.

Are your IRA funds eligible for bankruptcy exemption?

For those in California who are preparing to file for personal bankruptcy, the safety of their retirement investments is often a top concern. In general, money placed within an IRA is classified as exempt from the bankruptcy estate. This means that those funds will not be used to repay creditors, and will remain in place throughout the entire process, due to the bankruptcy exemption.

Getting a mortgage after a personal bankruptcy discharge

For those in California who have gone through serious financial difficulties, reaching the other side of those troubles brings a deep sense of relief. Shedding the burden of extensive debt and there resulting collections efforts can feel like a particular type of freedom, one that is often hard-won. For many, personal bankruptcy is the means through which financial freedom was attained, and the years following that process are spent rebuilding financial stability and restoring a solid credit rating.

After personal bankruptcy: Financial tips for moving on

For many in California, the decision to file for bankruptcy is the most difficult part of the entire process. As the case moves forward, individuals often feel a sense of purpose and are comforted by the fact that they are taking control of their financial future. Once a personal bankruptcy has been discharged, many are filled with a renewed motivation to make better financial choices in the future. The following tips are offered in the hopes of giving those individuals the tools they need to move forward.

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Thomas F. Miles, Attorney and Counselor at Law
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