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Riverside Chapter 13 Bankruptcy Attorneys

Repay Your Debts Over Time

Sometimes, even the most thoughtful financial planning is no match for the unpredictability of life. When a disaster strikes, it can feel impossible to recover financially. Filing for Chapter 13 bankruptcy allows you to alleviate some of the pressure your debt is instilling by allowing you to produce a payment plan you can structure to suit your needs and protect your assets.

Call one of our attorneys for help protecting your property and restoring financial stability: (951) 784-1678.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a filing plan for individuals to settle outstanding debt while protecting their assets. Through Chapter 13, debtors construct a three- to five-year repayment plan that they maintain through monthly payments to their bankruptcy trustee who then distributes the payments to the creditors. This effectively blocks contact between the debtor and the creditor, with the trustee being the acting liaison during the repayment period.

Chapter 13 is an option for those who are disqualified from Chapter 7 for having either too high of an income or enough money to pay for all basic expenses in addition to some debt. The key differentiators between Chapter 13 and Chapter 7 are the length of the repayment process, debts you can discharge, and the ability to preserve your assets.

Chapter 13 bankruptcy uniquely allows:

  • For debt to be repaid in monthly installments over the course of three to five years
  • To discharge debts incurred by:
    • Divorce proceedings
    • Property settlements
    • Debts to pay non-dischargeable taxes
    • Debts for malicious injury to property

Chapter 13 offers debt relief according to terms you author. You can alleviate your debt without sacrificing your assets or your agency.

Those struggling to repay debt should contact The Turoci Bankruptcy Firm for professional guidance.

Who Qualifies for Chapter 13 Bankruptcy?

Chapter 13 upholds stricter guidelines than other bankruptcy filing options. To qualify, the debtor must:

  • Have less than $394,725 in unsecured debt, including credit card payments and other bills
  • Have less than $1,184,200 in secured debt, or debt that is backed by collateral
  • Not have had a previous petition for bankruptcy dismissed within the past 180 days due to failure to appear in court or comply with orders
  • Prove that they filed federal and state income taxes the four years preceding their petition
  • Attend an approved credit counselling course before filing the bankruptcy petition and provide certificate of completion

Individuals who adhere to the guidelines above may be eligible. Businesses are not eligible to file for Chapter 13 bankruptcy.

How Do Chapter 13 Payment Plans Work?

Chapter 13 monthly payment plans are structured according a variety of factors. Your monthly payments will be made to your bankruptcy trustee, who will then pay off your creditors.

Factors that can affect how your payment plans are structured:

  • Your disposable income determines how much your monthly payments are.
  • Your payment plan length will depend on your income level. If your monthly income is greater than the median for your state's household size, your plan will be 5 years. If it is less, your plan will be 3 years.
  • You will need to account for all of your debts, including priority debts, administrative fees, and secured debts if you want to keep your car or home.

Once you make all of the payments on your plan, the remainder of the balance can be discharged.

What Happens If I Cannot Afford My Plan Payments?

An individual's financial situation can change during the course of 3 to 5 years, such as losing a job or a decrease in income.

If you find yourself unable to keep up with your Chapter 13 repayment plan due to reduced income, there are several options:

  • Request a plan modification: You may be able to request a plan modification with the court.
  • Hardship discharge: If you have no way of paying back a debt due to hardship, such as a debilitating illness, you can request that the court discharge these debts.
  • Convert to Chapter 7: It may be possible to convert your case to a Chapter 7, but you may lose nonexempt property.

A bankruptcy attorney can advise you on what steps to take if you are facing difficulty keeping up with your plan.

What Are the Benefits of Chapter 13 Bankruptcy?

A debtor’s benefits from Chapter 13 bankruptcy extend beyond resolving their financial hardships. After filing, the debtor is relieved of debt collection calls and can no longer be contacted by creditors regarding the debt being settled through their repayment plan. Additionally, a debtor benefits by maintaining ownership of their assets, unlike in a Chapter 7 filing where belongings are liquidated in order to repay debt. Debtors can gradually repay debt and return to a new normal.

Keep your property and your independence. Contact our Riverside Chapter 13 bankruptcy attorneys to help you revitalize your financial situation.

Client Testimonials 

Hear It From the People We Have Helped
  • I definitely recommend Mr. Turoci, he made my bankruptcy process go smoothly and easily.

    “I definitely recommend Mr. Turoci, he made my bankruptcy process go smoothly and easily. He explained everything to me. He is extremely professional and helpful. My case took less than a month and I ...”

    - Tom B.
  • The Turoci firm was amazing.

    “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”

    - Katie L.
  • I'm very happy with the service I received from the Turoci Bankruptcy Firm, and 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 ...”

    - Jamie G.
  • 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
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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 ...
  • 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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