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

Personal bankruptcy filing may benefit college grads

Although many spring commencement speeches this year encouraged new college graduates to take risks and be bold, some graduates might already feel defeated this summer. This is because the job search process can be difficult, and finding a job that is adequate for covering personal expenses and debt can be a challenge. Even though student loan debt typically can’t be discharged if a person decides to file for bankruptcy, other types of debt -- such as credit card debt -- can be. A personal bankruptcy filing may be enough to help some California graduates who need immediate relief from debt that has become unmanageable.

The role of a "Debtor" within personal bankruptcy

For many consumers, the bankruptcy process is something of a mystery. The process of dealing with financial stress and making the decision to file can be so daunting that little thought is given to what will take place once the process has begun. The following information is given in the hopes of educating California residents as to what to expect once their personal bankruptcy has begun.

Will personal bankruptcy lead to loss of one's assets?

Once a California resident has made the difficult decision to file for bankruptcy, the next step often involves researching how that decision will impact their current financial standing. Often, fear and uncertainty surround the decision to file, and can even lead some to postpone filing long after it becomes clear that personal bankruptcy is the best course of action. In reality, however, many of the beliefs that people hold are simply untrue.

Tackling unmanageable debt, military style

Feeling overwhelmed by mounting debt is a difficult position to live with. The stress associated with unmanageable debt can bring a range of negative consequences to one’s health and interpersonal relationships. Finding a way out is important, before these ill effects present even more problems. One recently published book aims to give California readers a different perspective on how to approach high levels of debt.


Thomas F. Miles, Attorney and Counselor at Law
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