Get the Fresh Start They Deserve

Irvine Debt Relief Attorney

Helping Clients in Orange County Get out of Debt

If you are struggling with overwhelming debt, you may feel like you are drowning. You may be trying to figure out how you are going to pay your bills, much less make ends meet. You may feel like there is no end in sight to your financial problems.

At The Law Offices of Joseph M. Tosti, APC, we can help you find the relief you need. Our Irvine debt relief lawyer can help you file for bankruptcy, negotiate a settlement with creditors, or help you with any other debt-related legal matter. With over 30 years of experience, we have the knowledge and skill to guide you through the process and help you find the financial freedom you deserve.

Call (949) 245-6288 or contact us online to discuss your options with a skilled Irvine debt relief attorney. We are available to help you in English, Spanish, French, and Italian.

What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

If you are struggling with debt, you may be wondering whether you should consider filing for bankruptcy. Filing for bankruptcy is a serious decision, and it is important to understand your options before moving forward.

There are two main types of bankruptcy: Chapter 7 and Chapter 13. While both have similar goals, they also have some important differences. It is important to understand these differences so you can find the right option for you.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is also known as liquidation bankruptcy. If you file for Chapter 7 bankruptcy, your non-exempt assets will be liquidated to pay off your debts. However, there are exemptions in place to protect certain assets, such as your home, car, and certain types of personal property.

Once your debts are paid off, your bankruptcy case will be dismissed, and your debt will be discharged. This means that you will no longer be responsible for paying off those debts. Chapter 7 bankruptcy is typically used by individuals who have a lot of debt but little to no assets.

Chapter 7 bankruptcy is typically faster and less complicated than Chapter 13 bankruptcy. However, the downside is that you may lose some of your assets. If you have little to no assets and a lot of debt, Chapter 7 bankruptcy may be the right option for you.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is more commonly used by individuals who have a regular income and some assets. With Chapter 13 bankruptcy, an individual will need to file a repayment plan with the court, outlining how they will pay back their creditors over a period of time.

The repayment plan will typically last between three and five years and will require you to make monthly payments to a bankruptcy trustee. The amount of your payment will depend on your income and the types of debts you have.

When you make your payments, the trustee will then pay your creditors. When your plan is completed, your remaining debts will be discharged. Chapter 13 bankruptcy can be complicated and time-consuming, so it is important to work with an experienced attorney to help you file your case and create a solid repayment plan.

How We Can Our Irvine Debt Relief Lawyers Help

At The Law Offices of Joseph M. Tosti, APC, we understand how overwhelming debt can feel. We can help you find the relief you need in any debt-related matter. Whether you need help filing for bankruptcy, negotiating with creditors, or dealing with mortgage foreclosure, our Irvine debt relief lawyer can help.

Our firm has over 30 years of experience helping clients in Orange County find the debt relief they need. We can help you, too. Call us at (949) 245-6288 to discuss your options with an experienced attorney.

Dedicated to Providing Quality Representation

How We served our clients
  • Advice & Guidance Invaluable

    “Joe's advice and guidance, before, during, and after my bankruptcy were invaluable!”

  • Very Communicative

    “Kathe kept me abreast of the entire process and was very communicative.”

  • 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.”