Filing for Bankruptcy in Los Angeles

Speak to a Certified Bankruptcy Specialists Today

Although bankruptcy has helped numerous individuals achieve financial freedom, it’s not right for everyone. To discover if filing for bankruptcy is a good option for you, please get in touch with The Turoci Bankruptcy Firm today. Our Los Angeles bankruptcy attorneys can evaluate your situation to determine which type of bankruptcy you should file for or any potential bankruptcy alternatives to may be eligible for. As a Certified Specialist in bankruptcy law, Todd Turoci and The Turoci Bankruptcy Firm, have the experience that will help you save time, money, and stress. Contact us today at (310) 846-8454 to request a free consultation.

What Is the Bankruptcy Code?

In the United States, all bankruptcy cases are governed by a set of federal laws known as the Bankruptcy Code. Found in Title 11 of the U.S. Code, the Bankruptcy Code is divided into several Chapters. Chapters 1, 3, and 5 deal with general bankruptcy rules and procedures. The remaining Chapters, which include Chapter 7, 9, 11, 12, 13, and 15, relate to specific types of bankruptcy proceedings.

The Bankruptcy Code has many Chapters, each made up of several Sections, including:

Chapter 1 : General provisions (Sections 101, 112)
Chapter 3: Case administration (Sections 301, 366)
Chapter 5: The debtor, the estate, and creditors (Sections 501, 562)
Chapter 7: Liquidation (Sections 701, 784)
Chapter 9: Adjustment of municipality debts (Sections 901, 946)
Chapter 11: Reorganization (Sections 1101, 1174)
Chapter 12: Debt adjustment for family farmers or fishermen with regular annual income (Sections 1201, 1231)
Chapter 13: Debt adjustment of an individual with regular income (Sections 1301, 1330)
Chapter 15: Ancillary and additional cross-border cases (Sections 1501, 1532)

Meet Our Certified Bankruptcy Specialist Todd Turoci

Helping you save time, money and stress!

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See Your Bankruptcy Options

Here to Guide You Every Step of the Way

Client Testimonials

Hear It From the People We Have Helped

Todd, was great, He helped me to get through a rather tough time.
“Todd, was great, He helped me to get through a rather tough time. He and his staff were professional and helped me along every step of the way...Great work, and I will recommend him to anyone.”
- Eric Quinn
Thank you Mr. Turoci for assisting me with my financial situation. You and your staff (Daisy, Courtney, Laura, and Dana) were so helpful!
“Thank you Mr. Turoci for assisting me with my financial situation. You and your staff (Daisy, Courtney, Laura, and Dana) were so helpful and handled my situation. Very friendly and professional. I ...”
- Kimberly Deasey
Mr.Turoci always answered my questions, and put me at ease. My only regret is that I didn't do this sooner.
“I was very nervous and scared about having to file for Bankruptcy. I was exhausted in trying to keep up with finances I could not handle any more, I contacted the Turoci Firm and was relieved that I ...”
- Mary Cunningham
Turoci Law firm two thumbs up!
“Turoci Law firm two thumbs up! We came to him with questions and concerns. He addressed all our questions and helped guide us to the best solution. I highly recommend to all friends and family. Hablan ...”
- Sandra Hernandez
Mr. Turoci and his staff listened to our concerns. They were courteous, understanding and very thorough.
“Mr. Turoci and his staff listened to our concerns. They were courteous, understanding and very thorough. Always answered our questions and made sure all paperwork was done correctly. We are very ...”
- Lydia Gulley

Declaring Bankruptcy

Bankruptcy proceedings are initiated by filing a petition for bankruptcy. When this occurs, a bankruptcy estate is created, which generally consists of all the filer’s assets. Filing under Chapter 7 or Chapter 11 of the Bankruptcy Code will generate a separate taxable entity.

There are various tax obligations depending on which type of bankruptcy is filed for. Generally, debt that is canceled or forgiven is considered taxable income for the debtor. However, debt canceled under bankruptcy proceedings is not considered income, but it will reduce the number of additional tax benefits the debtor is entitled to.

What to Expect When you File Bankruptcy

The process for filing for bankruptcy in Los Angeles is as follows:

When your financial burden has become too much and there is no escape in sight, contact The Turoci Bankruptcy Firm to schedule a free, no-obligation consultation to discuss your situation.
At this point, we can advise you on the right debt-relief options for your situation. While some cases are resolvable with a credit counselor, others will require the assistance of our experienced bankruptcy attorneys. When you retain our firm, we can discuss how to pay our attorney fees in the midst of having other bills unpaid. We can also formulate an easy payment plan that fits your individual needs.
Next, our team can help you set up a meeting with a Debt Management specialist for a pre-filing counseling session.
Our legal team can then help you develop a plan of action that meets your short-term financial needs and sets you on a course to a long-term solution. We understand that this is a challenging process, and we are committed to being available to answer all of your questions. We are here for you through every stage of the process.
Following your bankruptcy filing, you can direct any calls from creditors to our firm. If your creditors are harassing you, we can help you fight back and uphold your rights under the Fair Credit Debtor Protection Act.
During the final stage of your case, our Los Angeles bankruptcy lawyers can help you rebuild your credit and move on to a debt-free life.

To schedule your free consultation with of our skilled lawyers, please call The Turoci Bankruptcy Firm at (310) 846-8454.

The Turoci Difference

Personal Guidance Through the Entire Process

Certified Bankruptcy Specialists
Todd is one of the few Certified Bankruptcy Specialists in the Central District and the only one in the Inland Empire, as designated by the American Board of Certification.
Free, No-Obligation Consultation
Our firm offers free, no-obligation consultations for those who chose to retain our services.
Compassion
We can understand how challenging this process can be and will guide you through, every step of the way.
Availability
We offer our clients after-hour, weekend and same day appointments to meet your busy schedule.
Personalized Attention
When you hire us, you will have direct access to your attorney from start to finish.
Bilingual
Our team is bilingual! We service our clients in English & Spanish.

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