Certified Bankruptcy Specialist
Chapter 12 Bankruptcy Helping You Save Time, Money & Stress

Chapter 12 Bankruptcy Lawyers in Los Angeles

Handling Your Case with Unmatched Speed & Efficiency

During the recent bout of recessions our country has been experiencing, especially in the catastrophe of the pandemic COVID-19, many businesses and corporations have been suffering severe financial woes. If you are running a business with your family, you can face more hardships because your organization is so small, and often is not eligible for the aid larger corporations can get. The stakes are even higher if you are a farmer or a fisherman.

This is because despite the fact that farming and fishing businesses are utterly crucial to our entire country who depend on them for food, fuel, and economic resources, there are far more risks that come with these challenging sectors of industry. Fishermen and farmers are dependent on weather and climate conditions or levels and availability of natural resources, but they are also dependent on the broader economic state, which is currently wobbling on a dangerous brink. If you are a fisherman or farmer looking for reliable Chapter 12 bankruptcy lawyers in Los Angeles, you can depend on The Turoci Bankruptcy Firm to help you apply with complete clarity and understanding of the process.

Call us today at (310) 846-8454 for our trustworthy and reliable service in answering all your questions about Chapter 12.

How Does Chapter 12 Bankruptcy Work?

This narrowly specific but crucial Chapter can only be filed if you have a family-owned farming or fishing business. Chapter 12 was directly designed to help these individuals and families create a solid plan to pay off their debts in distinct payments over extended periods of time. When the installments have been distributed, the usual plan allows these family-run businesses to disburse their payment to demanding creditors over a space of three to five years.

Once your payments have been reorganized into a negotiated plan over this three- to five-year period, you will no longer be hassled by creditors demanding repossession. When your plan has been finished, the courts can actually discharge any remaining debts, which will enable you to completely start fresh financially.

Who Is Eligible for Chapter 12 Bankruptcy?

If you are looking to apply for Chapter 12, make sure that you know the eligibility requirements.

For Chapter 12 bankruptcy, you need to make sure you fit a certain criteria, which includes:

  • Having a fishing or farming business which is owned and operated by either a single individual, a married couple, a mutual partnership, or in certain cases, a limited corporation.
  • At least half of your entire gross income must arise directly from farming or fishing, as opposed to other operations.
  • If you are a fisherman, your business debts must make up a minimum of 80% of your entire debt, excluding home mortgages.
  • If you are a farmer, your business debts must make up a minimum of 50% of your entire debt, excluding home mortgages.
  • If you are involved in a mutual partnership or a corporation, at least half of the entire business’s operations need to be owned and managed by a single family.
  • If you are a fisherman, the entirety of your debt cannot surmount around $1.8 million.
  • If you are a farmer, the entirety of your debt cannot surmount around $4 million.

Get Knowledgeable Support From Our Legal Professionals

You should never be ashamed of applying for Chapter 12 bankruptcy, especially when farmers and fishermen, some of our most valuable workers, are facing financial trouble all over the country for causes completely outside of their control. However, since this kind of bankruptcy application is much rarer, requiring highly specific criteria and restrictions, you will need our greatly experienced Chapter 12 bankruptcy lawyers in Los Angeles to lend a hand.

Contact us today at (310) 846-8454to reach The Turoci Bankruptcy Firm, where you can count on receiving empathetic, powerful representation and advocacy. Request your free consultation today.

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
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Meet Our Legal Team

Here to Guide You Every Step of the Way
  • Todd  Turoci Photo
    Todd Turoci

    Founding Attorney

    About Todd Turoci The Turoci Bankruptcy Firm is owned and operated by Todd Turoci. The Firm limits its practice to the field of bankruptcy, insolvency, workouts and related civil litigation matters. The Firm has offices in the counties of Riverside, Los Angeles, and San Bernardino. The Firm primarily represents Consumers and Businesses as Debtors and Debtors-in-possession in Chapters 7, 11, and 13. Todd Turoci is one of the few Certified Bankruptcy Specialists in the Central District and the ...
  • Dustin  Nirschl Photo
    Dustin Nirschl

    Attorney

    About Dustin Nirschl Mr. Nirschl joined the Firm in June of 2019. He has worked with the City of Irvine as a Planning Commissioner for 2 years and 8 months where he considered resolutions, ordinances, and commission business. Dustin also examined applicants at public hearings, and lead discussions. Dustin also served as a Law Clerk for Hanna Brophy for 1 year where he prepared petitions for joinder, dismissal, and costs. Mr Nirschl Appeared at and summarized depositions. He also negotiated cases ...
  • Meredith  Jury Photo
    Meredith Jury

    Retired Bankruptcy Judge

    About Meredith Jury Judge Jury joined the Firm in July 2018. She has served over 20 years as Bankruptcy Judge presiding over thousands of bankruptcy proceedings. She has also served as a member of the United States Bankruptcy Appellate Panel for the Ninth Circuit. Prior to taking the bench she had over 21 years of experience as a litigator primarily practicing in bankruptcy. She was the first female associate and partner at Best, Best, Krieger, a professional law firm in Los Angeles, California. ...
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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.

Schedule Your Free, 
No-Obligation Consultation 

Get On the Path to Restoring Your Life
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