Los Angeles Chapter 7 Bankruptcy Lawyers
Helping Consumers Discharge Their Debts for Nearly Three Decades
If you are looking for relief from mountains of debt, then filing for bankruptcy can be a viable option for helping you get a fresh start in life. The way that a Chapter 7 bankruptcy specifically works is by filing for a motion where you can offer your assets or possessions to your creditors as a way to get rid of your debts. In the federal court, you will first create a petition which explains all the objects you currently own and lists the number of debts that you need to pay off. The petition will also show which possessions are exempt, and what you can finally discharge off your debt-pile.
While this sounds like an ideal plan, you will definitely need to have experienced Chapter 7 bankruptcy attorneys in Los Angeles help you file for this petition. The application itself can be very complicated, but with the aid of our knowledgeable team at The Turoci Bankruptcy Firm, you can have the greatest chance of being successful in your quest for absolving debts.
Call us today at (310) 846-8454 to find out how Chapter 7 bankruptcy can rescue you from debt.
How Chapter 7 Bankruptcy Works
Once your petition is filed, the federal court will inform all creditors that they cannot keep repossessing your property and funds, whether through collecting monetary sums, foreclosing homes, or taking your car. During the first court hearing with your creditors, a trustee will discuss all your financial activities in detail. This court trustee could potentially be a lawyer, but will not be a judge, since judges are not able to preside at these types of hearings. One surprising benefit is that usually during these hearings, the defendant can often protect most of their property from being passed off.
How a Discharge Works
Once the court hearing takes place, you will then be able to have a final bankruptcy discharge within the next three months. This amazing option that means you no longer have to pay your owed bills. Any personal liability can now be removed, and creditors are barred from coming back to collect any more of your possessions.
In order to apply for Chapter 7 bankruptcy, there are some crucial requirements that you need to pass. This is where it becomes important for a reliable legal representative to help you navigate through the process of figuring out whether you are truly eligible.
According to the standards of the Bankruptcy Code for Chapter 7, some of these key requirements include:
- Being an individual, a registered corporation, partnership, or any other business entity, depending on the circumstance.
- Attending counseling sessions, whether as a single individual or in a group format for credit from a licensed agency.
- Agreement to halt business completely. Those who want to continue business activities and not resort to liquidation can file a different petition, called Chapter 11
Helping Clients in Los Angeles Navigate Complex Situations
Chapter 7 bankruptcy can be a shining light in an otherwise dark and hopeless tunnel of debt. However, we know that for every journey we take in life, our adventures will be much safer and direct if we have a knowledgeable guide. Let The Turoci Bankruptcy Firm serve you in navigating the complex application process and set you on your way to financial freedom.
Contact us now at (310) 846-8454so that when the creditors are knocking at your door, you can have our trusted Los Angeles Chapter 7 bankruptcy lawyers at your side. Schedule your free case consultation.
Todd, was great, He helped me to get through a rather tough time.- 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!- Kimberly Deasey
Mr.Turoci always answered my questions, and put me at ease. My only regret is that I didn't do this sooner.- Mary Cunningham
Turoci Law firm two thumbs up!- Sandra Hernandez
Mr. Turoci and his staff listened to our concerns. They were courteous, understanding and very thorough.- Lydia Gulley
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.
We can understand how challenging this process can be and will guide you through, every step of the way.
We offer our clients after-hour, weekend and same day appointments to meet your busy schedule.
When you hire us, you will have direct access to your attorney from start to finish.
Our team is bilingual! We service our clients in English & Spanish.