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

Can consolidation offer a path toward debt reorganization?

Anyone who has struggled with high levels of debt knows how stressful it can be to feel helpless in the face of mounting bills. Many California residents will consider a wide range of debt relief options before choosing a course of action, including debt consolidation. Understanding the pros and cons of using consolidation as a means of debt reorganization can help consumers to make the best possible choice for their own unique financial scenario.

Strategies for paying down unmanageable debt

A great number of California residents face mounting levels of consumer debt. This can lead to high levels of stress, as well as an inability to set aside money for retirement, savings or emergency needs. One way to address this issue is to design and implement a strict repayment program, which can give individuals a measure of control over unmanageable debt.

Chapter 7 bankruptcy can eliminate tax debt for some

Many California readers will have heard media coverage of a recent phone scam in which individuals have defrauded thousands of people who believed that they were making payments on outstanding tax debt. The matter has drawn the attention of the Treasury Inspector General for Taxpayer Administration, and an official statement has been issues warning taxpayers about the scam. For those who owe a significant tax debt, the stress associated with that debt burden can lead some to take drastic actions to pay down the debt, including falling victim to these types of scams. Many are unaware that filing for Chapter 7 bankruptcy can lead to the discharge of tax debt.

For many, unmanageable debt can lead to collections woes

Few things are more stressful than going through a period of serious financial hardship. First the bills begin to pile up, and California consumers begin to juggle which accounts must be paid first and which can be put aside for a month or two. This often accompanies a fast reduction in savings, and a slow awareness that the situation is unlikely to improve in time to make a full recovery. Making matters worse, unmanageable debt is often followed by aggressive collection efforts, which only adds to the stress.

Is it possible to buy a home after Chapter 7 bankruptcy?

When financial struggles arise, the primary concern of many California homeowners is their ability to retain their home, or the chances of purchasing another property in the years to come. In many cases, the only course of action that makes financial sense is to file for Chapter 7 bankruptcy. That process will lead the home to go through foreclosure, which many homeowners wrongly assume will prohibit them from purchasing another home down the line.


Thomas F. Miles, Attorney and Counselor at Law
152 West Park Ave
El Cajon, CA 92020

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