Bankruptcy Attorney in Moreno Valley

Since 1993, The Turoci Bankruptcy Firm has diligently helped its esteemed clients through the process of bankruptcy. With 30 years of experience practicing bankruptcy law in the Moreno Valley area, Todd Turoci is an expert in the field, and as a bankruptcy attorney, he has helped countless companies and people by concentrating on this complex but important area of law. Every aspect of bankruptcy law is covered by his extensive experience, and he continuously sharpens his knowledge to better assist his clients. Meredith Jury joined our incredible team after serving as a bankruptcy judge for more than 20 years. Customers can come to Turoci, Jury, and a fantastic group of paraprofessionals for help with any legal issues or money problems. We may be partial, but we think that our incomparable paraprofessionals are the finest in town and that they make a tremendous addition to our team.

Our locally operated and owned firm is fully insured, licensed, and bonded. As Moreno Valley residents ourselves, we are in a unique position to support our neighbors and help you navigate one of the most trying and uncertain times in your life. We uphold our exceptional reputation by showcasing to every customer how different we are from other bankruptcy firms in the area. It’s time to get in touch with us and arrange a free consultation with a knowledgeable and experienced bankruptcy lawyer at the Turoci Bankruptcy Firm, whether you want to meet with one of our attorneys to discuss your best options, have been researching bankruptcy but are unsure of how to proceed, or are fully prepared to start the process.

What Are the Chapters of Bankruptcy?

Bankruptcy is a well-known term, but most people don’t know about the many chapters and what they each entail. Each chapter differs from the rest in its own unique ways, and some are more common than others – for example, Chapter 7 and Chapter 13 are the most commonly-filed types of bankruptcy. Your professional Moreno Valley bankruptcy attorney is here to help you choose the chapter that would be best for you, but it’s also a smart idea to become familiar with the various chapters.

Chapter 12 Bankruptcy

There is a very particular kind of business owner for whom Chapter 12 bankruptcy is intended. If you operate a family-owned fishing or farming business, this type of bankruptcy might be your best option. Through Chapter 12 bankruptcy, people and families can develop a workable debt repayment strategy that enables more manageable payments over a longer period of time. Threats of repossession and creditor calls will stop after the bankruptcy is over, and all unpaid debts will be erased, enabling a new beginning. 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.

If you are thinking about filing for bankruptcy, you might not know where to start, especially if you also have a difficult farming or fishing business to manage. Allow your Chapter 12 bankruptcy attorney to do the heavy lifting for you by responding to your inquiries, assisting you in determining whether to file, and assisting you through each stage of the bankruptcy process until you are on the path to financial recovery.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy allows you to get rid of debt by giving your property or other assets to your creditors. Your debt will be completely canceled, whether it was incurred as a result of collection agencies, personal loans, utility bills, civil court judgments, rental leases, credit cards, or medical expenses (although some types of debt cannot be relieved). When you’re drowning in debt and don’t have a clear plan to escape it, declaring bankruptcy probably looks like a great option. However, it’s crucial that you have a skilled Chapter 7 bankruptcy attorney to walk you through the process. There are several considerations to keep in mind, and some borrowers can choose another path to debt relief without declaring bankruptcy.

The bankruptcy process can quickly become frustrating. The petitioning process is the initial stage. This document contains comprehensive information about all of your debts and assets. Debt discharge should occur within three months of the court hearing with your creditors, during which a trustee will bargain with the creditors and work to protect your assets. These obligations will be discharged once your bankruptcy is complete, and you won’t be held responsible for any of them anymore. Your Chapter 7 bankruptcy lawyer will be happy to assist you in deciding whether or not filing for Chapter 7 bankruptcy is the right course of action, go through all the drawbacks and advantages with you, and walk you through every step of the procedure.

Chapter 9 Bankruptcy

Chapter 9 bankruptcy is designed for groups of people, otherwise known as “municipalities,” who are seeking to reorganize their debt management. Most of the time, deadline extensions can be used to repay or refinance debts. Interest and/or principal balances may also be reduced under specific conditions. Under some circumstances, the sums of principal and/or interest may also be decreased. In a Chapter 9 bankruptcy, assets aren’t liquidated and everyone in the affected tax district, town, county, school district, or city has access to legal assistance to help them manage 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. The debt will be discharged once a number of conditions have been satisfied, such as approval of the repayment plan and debt management plan, a court’s determination that the securities will be sufficient to satisfy the debtors’ obligations, and the receipt and distribution of their deposit by a court-appointed representative. This multi-step process can be made simple, manageable, and uncomplicated when your trusted Chapter 9 bankruptcy attorney from the Turoci Bankruptcy Firm becomes your advocate.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is an option for certain individuals and businesses who want to split their debt payments into more reasonable chunks or to receive an extension on their payment plan, all without facing asset liquidation. This kind of bankruptcy allows the debtor to maintain their freedom and their property, but they are also able to practically manage their debt. This kind of bankruptcy involves a great deal of time, effort, and legalese, which is why it’s essential that you find a proficient Chapter 11 bankruptcy lawyer to help.

The most experienced bankruptcy lawyer 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 rearranged to make them more practical for you and your company. On the surface, the procedure could appear simple and straightforward, but much planning and debt restructuring must actually occur. Guidance from a Chapter 11 bankruptcy attorney is crucial, because we can give you advice, help you gather and organize information, work with you to file a petition, and walk you through all the other steps of bankruptcy – including creditor meetings, reorganization plan proposals, hearings, payment plan initiation, and ultimately, resuming your day-to-day business operations as normal.

Chapter 13 Bankruptcy

Finding a certified bankruptcy specialist who can represent you along the road should be your first move if you’re thinking about filing for Chapter 13 bankruptcy. Additionally, you’ll require a Chapter 13 bankruptcy lawyer who can help you protect as many of your assets as possible and prevent you from falling into the traps established by deceptive debt collectors. Chapter 13 bankruptcy halts foreclosure, helps you pay off debts over time, stops creditor harassment in its tracks, and finally discharges your debt so you can move forward with your life.

When you choose to file for Chapter 13 bankruptcy, there are a lot of steps to be taken. Your knowledgeable Chapter 13 bankruptcy attorney will be by your side throughout the entire process, from gathering financial data to submitting petitions to appearing in court and beyond. Because of our friendly staff and your outstanding Moreno Valley bankruptcy lawyer, you won’t ever feel overburdened by the paperwork and legalese of the bankruptcy process. All of your questions will be answered, we will give you all the support you need, and we genuinely care about you.

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