Thomas F. Miles, Attorney and Counselor at Law
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Posts tagged "Chapter 7"

Impact of bankruptcy on your credit score

Due to our usage of credit cards and taking out loans for homes, vehicles and education, it is not uncommon for residents in California and elsewhere to deal with debt. While some debt is usually manageable, when it accumulates and is not controlled by a steady income individuals could suffer from this growing debt. In these matters, filing for bankruptcy might be the best option to obtain a fresh financial start.

Guiding you through a Chapter 7 bankruptcy

While some amount of debt may be manageable and necessary, as many people seek to own a home and personal vehicle, securing them with personal loans and mortgages can rack up debt fast. When debt becomes overwhelming and one cannot pay their bills on time, it might be beneficial to consider the options available to them to address their growing debt.

A review of the requirements for filing for Chapter 7 bankruptcy

In order to pursue bankruptcy protections under a Chapter 7 filing, a San Diego resident must meet the requirements of the process. This post will generally discuss how a person may qualify for Chapter 7 bankruptcy, but readers are asked to consult with their personal bankruptcy attorneys to discuss specific questions as this post does not provide legal advice.

Can you discharge student loans in bankruptcy?

Certain debts are eligible for discharge in individual bankruptcy proceedings. Debts to mortgage lenders, credit card companies and others may be consolidated and repaid through various bankruptcy filings. However, some debts are not eligible for discharge or are very hard to discharge through traditional bankruptcy processes.

Don't wait for resolutions: Take control of your debts today

As the warm days of summer completely disappear into the long nights of fall, San Diego residents have begun preparing themselves for the onslaught of holidays that happen between Thanksgiving and next year's Valentine's Day. Often during the holidays individuals reflect on what they would like to change in the future and some record those aspirations as resolutions for the New Year. While New Year's resolutions can be a fun way to take stock of one's life and seek out means of improving it, there are certain actions that individuals should take to better their lives as soon as they can rather than waiting to write down their resolutions.

Retirement accounts that are safe during bankruptcy

Debt is sometimes difficult to avoid. In most cases, it comes into our lives in small quantities. We make larger purchases on a credit card with the intent of paying it off either right away or in a few months. In other cases, people take on larger debts, such as when they purchase a home or a vehicle. And in some unfortunate matters, debt begins to pile up when medical bills accumulate. When debt becomes uncontrollable, consumers are put in a challenging predicament. However, filing for bankruptcy can be a real option and a solution in these circumstances.

When should you file for Chapter 7 bankruptcy over Chapter 13?

Dealing with financial problems is anything but easy. While these times can be minor, other individuals and families in California are dealing with the devastating reality of increasing debt problems. In order to keep their head above water and avoid the risk of losing their home and other assets and property, seeking debt relief is the best option. This can come in various forms, but the two most common ways for a consumer to address their debts is by filing for a Chapter 7 or Chapter 13 bankruptcy.

Understanding life after a Chapter 7 bankruptcy filing

There are many challenging decisions in life such as whether to go to college, move for a job, have children, or retire. These decisions can be life-altering and forever change your financial future. When debt takes over, life can become overwhelming and even worrisome. You may not know what to do or if things can ever return to normal. Even if it seems like a drastic and desperate move, filing for bankruptcy is not only a reliable option, it is also often the best step to take in order to obtain a fresh financial start.

CA firm providing competent Chapter 7 bankruptcy representation

Dealing with debt can be a difficult and emotional for many individuals in California. Although many debt issues can be overcome, some individuals are so overwhelmed that they find that they cannot to do so on their own. Thus, seeking guidance about debt relief options is often a necessary step. While filing for bankruptcy can seem like a negative or daunting task, it is frequently used to give individuals and families a fresh financial start.

How can Chapter 7 Bankruptcy help you?

Deciding to declare for bankruptcy may seem like a daunting decision for many. Admitting that you may not be able to overcome your financial challenges is not an easy decision, but it is important to remember that bankruptcy is designed to help you overcome the burden of debt, and although the recovery process may not be quick or easy, in the long run declaring for bankruptcy may be the way to go.


Thomas F. Miles, Attorney and Counselor at Law
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