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The Law Offices of Joseph M. Tosti, APC The Law Offices of Joseph M. Tosti, APC
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Bankruptcy Reform Act Helping You Pursue The Compensation You Deserve

Bankruptcy Reform Act

The largest reform of the United States Bankruptcy Law in 25 years took effect on October 17, 2005. Under the new law, those seeking to file bankruptcy must now provide the following:

  • A Credit Counseling Certificate prior to the filing of bankruptcy;
  • Proof of income for the six month prior to the filing of the bankruptcy;
  • A copy of the debtor’s most recent tax return;
  • A Financial Education Certificate prior to the discharge of the bankruptcy.

In addition, if the debtor’s household income is over the California median income, the debtor will have to qualify under the “Means Test” prior to filing the Chapter 7 bankruptcy.

There has been much overreaction and misleading information about the Bankruptcy Reform Act of 2005 and how it would apply to the average consumer. Although there are many more “legal hoops” to jump through, we are still able to qualify 80% to 90% of those persons we were able to qualify under the old law.

Please call the Law Offices of Joseph M. Tosti and speak with Mr. Tosti personally. He will be able to advise you as to whether you will qualify to file a Chapter 7 bankruptcy under the new law. It is important to remember when choosing a bankruptcy attorney, that not all attorneys have the requisite knowledge and experience in handling these cases. The Law Offices of Joseph M. Tosti has been committed to representing those consumers and businesses that have been suffering from severe financial hardship for over a quarter of a century.

For more information about our bankruptcy lawyers and our office in Irvine, contact us today at (949) 245-6288 and schedule your free consultation.

Dedicated to Providing Quality Representation

How We Have Served Our Clients

At The Law Offices of Joseph M. Tosti, APC, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

    "Advice & Guidance Invaluable"
    Joe's advice and guidance, before, during, and after my bankruptcy were invaluable!
    - Hazlett V.
    "Very Communicative"
    Kathe kept me abreast of the entire process and was very communicative.
    - Aubry P.
    "Honest Quality"
    It was a great experience for what it is, with everything completely done with out complications. Joe tosti law offices is honest , quality attorney.
    - Dee P.
    "A GREAT ATTORNEY!"
    Almost immediately as I came in to his office, he handled it, and got the job done. Great service, fast and affordable! Joseph and his team helped me out big time. I felt at ease during the whole process. Highly Recommended.
    - James
    "El Sr. Tosti se ocupa de los negocios y hace el trabajo. No se conforma hasta que sabe que su cliente ha sido muy bien compensado0."
    Estoy EXTREMADAMENTE contenta con su profesionalismo y servicio rápido.
    - Ericka P.
    "Mr. Tosti takes care of business, & gets the job done. He doesn't settle until he knows his client has been compensated very well."
    I'm EXTREMELY happy with his professionalism & prompt service.
    - Ericka P.
    "He's extremely knowledgeable and knows exactly what he's doing. "
    I highly recommend him! Thank you to you and your team!
    - Nicole L.
    "I couldn't be happier with my choice for legal representation."
    Thank you guys for being awesome.
    - Jason B.