Bankruptcy Attorney in Claremont

Since 1993, The Turoci Bankruptcy Firm has been devotedly helping its cherished customers through bankruptcy. Todd Turoci is an accomplished bankruptcy attorney with 30 years of experience practicing in the Claremont community. By concentrating on this difficult but essential area of law, he has aided countless companies and individuals. Every aspect of bankruptcy law is covered by his extensive experience, and he is always learning new things and improving his knowledge to better assist his clients. After working as a bankruptcy judge for more than 20 years, Meredith Jury joined our innovative team. Our firm is armed with Turoci, Jury, and a fantastic group of paraprofessionals to help clients through any civil dispute or financial difficulties. We might be partial, but we think our invaluable paraprofessionals are the best of the best, and they perfectly complete our team.

At our locally operated and locally owned firm, we are fully licensed, insured, and bonded. As your neighbors in the community, we are uniquely qualified to walk alongside you and help you through an uncertain and stressful situation. We have worked hard for our outstanding reputation, and we would appreciate the opportunity to show you what makes us different from other bankruptcy law firms in Claremont. Whether you’d like to meet with one of our lawyers to discuss the best solution for you, you’ve been researching bankruptcy but you’re not sure how to pursue it, or you’re fully ready to dive into the process, it’s time to contact us and schedule a free consultation with a friendly and trusted bankruptcy lawyer at the Turoci Bankruptcy Firm.

What Are the Chapters of Bankruptcy?

Even though “bankruptcy” is a commonly used term, few people are familiar with all the many chapters or what they represent. Each chapter is distinct from the others, though some (such as chapters 7 and 13) are more common than others. While your knowledgeable Claremont bankruptcy attorney will help you select the chapter that makes the most sense for you, it’s a good idea to understand the distinctions for yourself.

Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, debt is eliminated and assets or possessions are often liquidated to creditors. Your debt, whether from collection agencies, credit cards, rental leases, civil court judgments, personal loans, medical bills, or utility bills, will be totally discharged (apart from specific forms of debt). If your debt is a burden and you need to come up with a plan, declaring bankruptcy could seem like the best solution. However, it’s crucial that you work with a skilled Chapter 7 bankruptcy attorney who can assist you with the process. There are several variables to consider, and some borrowers might be able to choose an alternative method of debt relief instead of pursuing bankruptcy.

The bankruptcy process can be a little overwhelming. First, a petition will be filed. This document contains comprehensive information about all of your debts and assets. A trustee will work during the hearing to safeguard your assets and engage in negotiations with the creditors, and your final bankruptcy discharge should take place within three months of the hearing. After your bankruptcy is finalized, those debts and bills will be eliminated and you will no longer be held liable for any of them. Your Chapter 7 bankruptcy lawyer will guide you through each step of the process, go over all the advantages and disadvantages with you, and assist you in determining whether or not declaring Chapter 7 bankruptcy is the right plan of action for you.

Chapter 12 Bankruptcy

For a very specific set of business owners, Chapter 12 bankruptcy may be a fantastic solution. If you run a family farming or fishing business, this chapter could be a viable option for you. With Chapter 12 bankruptcy, individuals and families can come up with a practical debt repayment plan that allows for more manageable payments over a longer duration. After bankruptcy is finalized, creditors will no longer call, threats of repossession will stop, debts will be eliminated, and you’ll be on your way to moving forward. Since this bankruptcy chapter is designed for a specific set of business types, you’ll need to consult with a knowledgeable Chapter 12 bankruptcy lawyer to learn whether or not you would be eligible.

It might be challenging to know where to begin when you decide to explore bankruptcy, particularly if you are simultaneously managing a difficult fishing or farming business. Your Chapter 12 bankruptcy attorney will take care of all the challenging components of the process, respond to all of your inquiries, assist you in deciding whether filing is the best course of action for you, and guide you every step of the way so that you can regain financial independence.

Chapter 11 Bankruptcy

If a business (or an individual satisfying certain conditions) wants to avoid liquidation, extend their payment plan, or divide payments into more manageable amounts, Chapter 11 bankruptcy may be the best option. With this type of bankruptcy, you can keep your independence and the power to manage your property while managing your debt in a realistic way. Because filing for Chapter 11 bankruptcy can be challenging and time-consuming, you need the help of an experienced bankruptcy lawyer.

The most experienced bankruptcy attorney near you is here to discuss all of the important distinctions between Chapter 11 bankruptcy and other chapters so you understand whether or not you should pursue this type of bankruptcy. Your debts will be reorganized under Chapter 11 to make them easier for you and your company to manage. Although careful planning and debt restructuring seem to be simple, they are actually very difficult processes. Consultation with a Chapter 11 bankruptcy attorney is essential because we can help you navigate all the other bankruptcy processes, including creditor meetings, reorganization plan proposals, hearings, payment plan initiation, and finally, getting your company back to its regularly scheduled daily operations. We can also provide you with advice, help you compile and organize documents, collaborate with you to submit a petition, and guide you through the entire process.

Chapter 9 Bankruptcy

A whole group of people, or “municipality,” tries to rebuild the management of their debts through a Chapter 9 bankruptcy. Usually, deadlines are extended to allow for refinancing or repayment of debts. There are situations when the principal amount or interest may also be decreased. During a Chapter 9 bankruptcy, assets aren’t liquidated, and everyone in the impacted tax district, school district, town, county, or city can get legal help and discover a practical strategy to manage and repay their debts.

It can take a while to submit a Chapter 9 bankruptcy filing and get the relief you need if you don’t have the help of a skilled Chapter 9 bankruptcy lawyer. After a number of requirements have been met, including confirmation of the repayment plan and debt management plan, a court’s finding that the securities will adequately satisfy the debtors’ obligations, and the receipt and disbursement of their deposit by a court-appointed agent, the debt will be discharged. This process requires many steps, but it can be less complicated, more manageable, and less stressful when you have a reliable Chapter 9 bankruptcy attorney from the Turoci Bankruptcy Firm to advocate for you.

Chapter 13 Bankruptcy

When you’re facing Chapter 13 bankruptcy, you’ll want to find a certified bankruptcy specialist to be your advocate throughout the process. You will also need a Chapter 13 bankruptcy lawyer who will fight for you and your assets, not simply allow you to succumb to the ruthless actions of debt collectors. Chapter 13 bankruptcy prevents foreclosure, aids in the gradual repayment of debts, halts creditor harassment, and finally dismisses your debt so you can resume a low-stress life.

There are numerous actions to be completed if you decide to file for Chapter 13 bankruptcy. Your trustworthy Chapter 13 bankruptcy attorney will be by your side for the duration of the process, helping with everything from gathering financial data to submitting applications to presenting in court and more. Thanks to our friendly team and your outstanding Claremont bankruptcy lawyer, you won’t ever feel overburdened by the paperwork and legalese of the bankruptcy process. We won’t allow you to feel scared, helpless, or confused because we genuinely want to help.

For the most reliable and compassionate bankruptcy lawyer near you, call the Turoci Bankruptcy Firm at 951-784-1678.