Certified Bankruptcy Specialist
Debt Settlement Helping You Save Time, Money & Stress

Debt Settlement Lawyers in Los Angeles

Driven to Get Results for Our Clients

Our economy was already struggling in recent years, and with the onslaught of COVID-19, we are closer than ever on the brink of a recession. As a result, many individuals and businesses are struggling with paying debts for no fault of their own. If you are feeling overwhelmed by high mountains of debt, you need to know that you are not alone. Our reliable debt settlement attorneys in Los Angeles are here to help.

Now, you may have heard that one potential option for decreasing your debt is through debt consolidation and settlement. This can be a helpful option of relief for some people attempting to pay back pricy loans through working directly with their creditors to decrease the payments that are due. In certain cases, a creditor might be willing to limit the amounts of debts that are owed, potentially allowing a smaller lump sum of payment. They might even be willing to negotiate an extended plan for installment, rather than facing the fact that they could lose everything if you file for bankruptcy.

The question is whether debt settlement is really the best option for you, since certain types of debts do not even qualify for consolidation. To determine the most viable action to take, you can count on The Turoci Bankruptcy Firm to give you sound advice and representation.

Call us today at (310) 846-8454 for dependable support for all your settlement questions.

What Is Debt Settlement?

Debt settlement, also known as debt consolidation, involves interacting directly with each of your creditors to whom you owe money. Through debt settlements, you and your creditors try to work together in decreasing the amount of debt that is owed, either by diminishing the loan amount or accepting a more reasonable form of payment installment.

Because the arrangement for the payment is voluntary on both sides, and the agreement can be cut off by either party at any time, which may seem like a simple solution to your debt problem. The issue is that there are actually many hidden traps that could occur in debt settlement arrangements that might land you in a less desirable position than before.

Disadvantages of Debt Consolidation

There are certain debts, called unsecured loans, which could be considered for debt settlement. These unsecured loans, which are not affixed to physical possessions or property like cars or houses, are able to be considered under debt settlement.

Unsecured debts that are allowed include:

  • Bills for cell phones
  • Business debts
  • Credit cards
  • Private student loans
  • Medical issues
  • Car repossessions

However, there are several debts that do not apply, called secured loans. These tend to be much larger payments.

Examples of secured loans which do not apply for debt settlement include payments for:

  • Mortgage
  • Child support
  • Car loan payments
  • Tax debt
  • Government student loans
  • Utility bills

Many consolidation plans exclude the largest debts you owe, but they tend to act like an extended chain, dragging on for many years without decreasing the overall balance.

Alternative Solutions Through Chapter 13 Bankruptcy

The best alternative to debt settlement is getting complete protection from all of your creditors. You can do this by applying for a full Chapter 13 bankruptcy, which will allow you to consolidate your debt into single payments each month, which will take a maximum of 5 years to complete. Our seasoned debt settlement lawyers in Los Angeles can help you decide the optimal solution for your individual needs.

Contact us now at (310) 846-8454 so that The Turoci Bankruptcy Firm can help you find true financial freedom from your debts.

Client Testimonials 

Hear It From the People We Have Helped
  • Great process

    “The Turoci firm was amazing. From the start to finish the process was transparent. I appreciate all their hard work throughout my process. Thank you”

    - Former Client
  • I would recommend them to anyone looking to file bankruptcy.

    “I was unemployed, and with no source of income, unable to pay my debts, so I decided to file chapter 7 bankruptcy. I went with Todd Turoci, because he office was close to where I live. Him and his ...”

    - Former Client
  • 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
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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 

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