Thomas F. Miles, Attorney and Counselor at Law
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Unmanageable debt relief options many in California

There is some food news for those of us in California in a recent report about the number of foreclosure actions happening in our state and elsewhere across the nation. That is that the housing market in our state has begun to improve, thus lowering the number of individuals losing their homes in the foreclosure process. In addition, some may find that they have options to deal with once unmanageable debt that they have accumulated over the recent past.


Foreclosure rates across the nation have fallen some 28 percent over the past year. In addition, California readers may be glad to learn that the number of homeowners with under-water mortgages has fallen from 21.7 percent at the end of last year to well below 20 percent. As many know well, in the past some found that their mortgages were an unmanageable debt that was difficult to repay has jobs were lost during the recession.

For those that are still having difficulty repaying their debts, there are options to try to limit the affects of failing to repay. These include filing a personal bankruptcy, and negotiating new terms for loans. Each has benefits and challenges that should be considered before choosing the best method to help reduce an unmanageable debt.


Filing a bankruptcy or renegotiating a loan to help with unmanageable debt can seem overwhelming to some people. When that is the case, they may wish to seek information from an experienced professional who is able to guide them through the process. This can help those that have faced a foreclosure and others with different, though equally painful, financial crises.


Source:, "5 states with highest foreclosure rates," Quentin Fottrell, June 13, 2013

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Thomas F. Miles, Attorney and Counselor at Law
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