Thomas F. Miles, Attorney and Counselor at Law
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March 2015 Archives

Examining the causes of unmanageable debt

For many California consumers, the solution to extreme levels of debt is a successful personal bankruptcy action. By moving through the bankruptcy process, many forms of unsecured debt can be discharged, leaving the consumer free of any obligation to repay those accounts. In the months and years following a bankruptcy, it is essential that consumers make an effort to learn the reasons why they found themselves facing unmanageable debt, so that such difficulties do not arise in the future.

Proposed law could help students with unmanageable debt

Student loan debt is a serious financial matter, and one that leaves many of our nation's graduates struggling for many years after they have completed their education. Since 1978, government-issued student loans have been excluded from eligibility for discharge through personal bankruptcy. A similar measure was put into place in 2005 for privately issued student loans. This has left many in California and elsewhere with high levels of unmanageable debt as they move into adulthood.

Man facing fraud charges after filing personal bankruptcy

When seeking bankruptcy protection, it is absolutely imperative that individuals in California and across the nation follow the letter of the law. There are a wide range of disclosures that must be made, and all income, assets and debts must be included in the paperwork. Failure to do so can result in one's personal bankruptcy being unsuccessful, and it can also lead to criminal charges.

Personal bankruptcy does not eliminate access to credit

When considering debt relief options, many California consumers place bankruptcy near the bottom of their list. A great many misconceptions surround personal bankruptcy, and lead many people to avoid seeking bankruptcy protection. This is unfortunate, because virtually no other debt relief choice offers a faster or more clear path toward a debt-free future and the chance to rebuild.

Does Chapter 13 bankruptcy offer the best financial solution?

Making the decision to seek bankruptcy protection is a significant event. It marks a transition between struggling to overcome financial strife and deciding to take a definitive step toward resolving the matter. For many in California, choosing which form of bankruptcy to pursue can be a challenge. In this piece, information on Chapter 13 bankruptcy is offered in the hopes of making those decisions easier to make.


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

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