Bankruptcy Attorney in Pomona
At the Turoci Bankruptcy Firm, we have been helping our valued clients navigate the bankruptcy process since 1993. 30 years ago when Todd Turoci started this firm, he saw a need in the Pomona area for an experienced bankruptcy attorney that focuses solely on this important and complicated legal field. Mr. Turoci has extensive experience in every aspect of bankruptcy law, and he never stops educating himself on new ways to help his clients. After serving for more than 20 years as a bankruptcy judge, Meredith Jury joined our highly specialized group. Together, Turoci, Jury, and their staff form a powerhouse team that knows exactly how to support and guide clients through any financial trouble or civil litigation matter. We think our invaluable paraprofessionals are the best in the business, and they complete our team perfectly.
Our locally owned and locally operated firm is fully licensed, bonded, and insured. As your neighbors in the community, we are uniquely qualified to walk alongside you and help you through an uncertain and stressful situation. Our reputation is one of excellence, and we relish the opportunity to show you just what sets us apart from other bankruptcy law firms in Pomona. Whether your mind is made up and you’re ready to start the bankruptcy process, you’ve started researching but you need help moving forward, or you’re just wondering what solution is in your best interest, reach out today to schedule a free consultation with a trusted and friendly bankruptcy lawyer at the Turoci Bankruptcy Firm.
Bankruptcy Chapters
We’ve all heard of bankruptcy, but you may not be familiar with the fact that there are actually many different bankruptcy chapters. 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 knowledgeable Pomona bankruptcy attorney will help you determine which chapter makes the most sense for you, but it’s still important to know the differences for yourself.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy allows you to eliminate debt by liquidating possessions or assets to your creditors. Whether you’re struggling to pay credit card, medical bill, personal loan, utility bill, rental lease, civil court judgment, or collection agency debt, this type of bankruptcy will allow you to wipe the debt slate clean. When you’re drowning in debt and you don’t have a plan, bankruptcy probably sounds like a great idea. However, it’s crucial that you have a skilled Chapter 7 bankruptcy attorney to walk you through the process. Certain factors must be considered, and certain indebted individuals can take another route to pursue debt relief without filing for bankruptcy.
The process of applying for bankruptcy can be overwhelming. First, a petition will be filed. The petition will detail all your possessions and debts in depth. You’ll meet with your creditors in court, a trustee will work during the hearing to protect your property and negotiate with the creditors, and your final bankruptcy discharge should occur within three months. When your bankruptcy is complete, you’ll have no more personal liability, and those old bills and debts will be discharged. Your Chapter 7 bankruptcy lawyer will be happy to help you decide whether or not Chapter 7 bankruptcy is right for you, talk to you about the advantages and drawbacks, and walk alongside you every step of the way.
Chapter 9 Bankruptcy
During a Chapter 9 bankruptcy, an entire group of people, or “municipality,” seeks to reconstruct the management of their debts. Typically, deadlines are extended so debts can be refinanced or repaid. Sometimes, the principal balance or interest could also be reduced. Assets are not liquidated during a Chapter 9 bankruptcy, and all the members of the affected tax district, county, school district, city, or town are able to seek legal representation and find an effective way to manage and repay their debts.
Filing a Chapter 9 bankruptcy application and getting the relief you need can be a lengthy process unless you have help from an excellent Chapter 9 bankruptcy lawyer. The debt will only be discharged after certain conditions are satisfied, including confirmation of repayment plan and debt management plan confirmation, determination by the court that the securities will legally settle the obligations of the debtors, and receipt and disbursement of the debtors’ deposit by a court-appointed agent. This multi-step process can be made simple, manageable, and uncomplicated when your trusted Chapter 9 bankruptcy attorney from the Turoci Bankruptcy Firm joins the fight.
Chapter 11 Bankruptcy
When a business (or an individual meeting certain criteria) wants to avoid liquidation and obtain an extension on their payment plan or divide payments into more manageable portions, Chapter 11 bankruptcy might be the best option. This type of bankruptcy can allow you to maintain control of your possessions and hold onto your freedom, but it also allows you to manage your debt in a realistic way. Applying for this type of bankruptcy can be confusing and time-consuming, and that’s why you need help from an expert Chapter 11 bankruptcy lawyer.
Chapter 11 bankruptcy is incredibly unique compared to the other chapters, but the most trusted bankruptcy attorney near you is here to explain it all. Your obligations will be reorganized so they become more reasonable for you and your business. While this sounds like a straightforward and simple process, it actually involves a great deal of careful planning and debt restructuring. 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 11 Bankruptcy Litigation
Why might Chapter 11 bankruptcy involve litigation?
In Chapter 11 bankruptcy proceedings, various types of disputes may arise that can complicate the restructuring process. Creditors often challenge the debtor’s eligibility for bankruptcy relief or the validity of their claims, which can create hurdles in the proposed repayment plan. Accusations of fraudulent transfers or preferences may surface, which can lead to scrutiny from the bankruptcy trustee or creditors. Debtors may also seek to reject unfavorable contracts or leases, often sparking disagreements with counterparties. Disputes over the dischargeability of debts – especially those incurred through fraud or misconduct – add even more layers of complexity. Violations of the automatic stay, such as unauthorized debt collection attempts, can further contribute to the legal entanglements of bankruptcy. Lastly, contentious debates over the valuation of assets often arise, particularly when their worth impacts the distribution of proceeds among creditors. Each of these challenges requires careful navigation and legal expertise to ensure a smooth and successful Chapter 11 bankruptcy process.
Several specific legal actions can significantly impact the case’s outcome. Adversary proceedings – distinct lawsuits within the bankruptcy – address disputes such as fraudulent transfers, objections to discharge, or challenges to repayment plan confirmation. Claims objections may arise, where creditors or the trustee contest the validity or amount of a creditor’s claim against the bankruptcy estate. Creditors often file motions for relief, seeking court permission for actions like foreclosure or repossession despite the automatic stay. Preference actions by the trustee may also aim to recover payments made to creditors just before bankruptcy, especially if they unfairly favor certain creditors over others. These legal maneuvers highlight the intricate nature of Chapter 11 bankruptcy. You’ll want to make sure you have skilled legal counsel if you want to navigate these complexities effectively, and that’s exactly what you’ll find at The Turoci Bankruptcy Firm.
What role does an experienced bankruptcy lawyer play in Chapter 11 bankruptcy litigation?
Legal representation plays a crucial role in navigating the complexities of the Chapter 11 bankruptcy process. Your Pomona chapter 11 bankruptcy lawyer will serve as advocates for debtors, creditors, or other involved parties, offering essential legal advice and guidance throughout the long and complicated process. They will meticulously evaluate the case’s merits, analyze pertinent laws and precedents, and develop strategic approaches aligned with their client’s objectives. A litigation attorney handles the drafting and filing of pleadings, including complaints, answers, motions, and other necessary documents for bankruptcy litigation. They engage in negotiation efforts to seek efficient and favorable resolutions to disputes.
During bankruptcy court proceedings, a chapter 11 bankruptcy attorney will represent clients by presenting arguments, examining witnesses, and making legal submissions on their behalf. Additionally, attorneys conduct thorough research on bankruptcy laws and regulations to support their positions with compelling legal arguments. For debtors, lawyers focus on asset protection, safeguarding exempt assets from liquidation and challenging claims that pose a threat to the debtor’s property. Serving in an advisory capacity, lawyers educate clients on the potential risks, benefits, and consequences of legal actions so they feel empowered to make informed decisions. They also ensure that their clients adhere to court orders, deadlines, and procedural requirements throughout the litigation process to ensure a comprehensive and compliant approach to Chapter 11 bankruptcy proceedings.
Turoci Bankruptcy Firm is your trusted partner in Chapter 11 bankruptcy litigation. With a proven track record, your skilled Pomona chapter 11 bankruptcy attorney will guide you through the seemingly endless intricacies and craft personalized reorganization plans. We negotiate favorable terms with creditors, ensuring that your business can continue while managing debts. Contact us for dedicated support and a fresh financial start.
Chapter 12 Bankruptcy
Chapter 12 bankruptcy is designed for a very specific type of business owner. If you operate a family-owned fishing or farming business, this type of bankruptcy might be your best option. Under Chapter 12 bankruptcy, families and individuals are able to form an effective plan that pays off debts over a longer period of time in manageable payments. When the bankruptcy is complete, repossession threats and creditor calls will come to an end, and remaining debts will be discharged, allowing for a fresh start. Because this type of bankruptcy is only available to a very small group of business owners, it’s important to contact a well-versed Chapter 12 bankruptcy lawyer to help you determine whether or not you qualify.
When you decide to look into bankruptcy, it can be tough to figure out where to start – especially if you’re also running a demanding fishing or farming business. Let your Chapter 12 bankruptcy attorney handle the heavy lifting by answering your questions, helping you decide whether or not to proceed with filing, and guiding you through every step of the bankruptcy process until you’re on the road to financial recovery.
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’ll also want a Chapter 13 bankruptcy lawyer who knows how to help you hold onto as much of your property and money as possible, rather than falling into the trap set by ruthless 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 decide to pursue Chapter 13 bankruptcy, many steps will be involved. From gathering financial information to submitting applications to appearing in court and beyond, your seasoned Chapter 13 bankruptcy attorney will be right by your side. You’ll never feel overwhelmed by the paperwork and legalese of the bankruptcy process, because our personable team and your top-notch Pomona bankruptcy lawyer won’t leave any question unanswered. We won’t leave you stressed, confused, and hopeless – we’re truly here for you.
