• $750 Million

    of Debt Discharged and Eliminated

  • 2,000+

    Bankruptcy Clients Represented

  • 99%

    Successful Debt Discharge Rate

Irvine Bankruptcy Attorneys

Providing Effective Solutions Across Orange County & Southern California

The decision to file for bankruptcy is not an emotional or moral decision—it is based on the amount of your debt and your ability to repay over time. Struggling with the burden of debt and just hanging on by making minimum payments will benefit only your creditors. Many have referred to this scenario as "debt slavery," where, despite significant payments made each month, the balances never go down because of high interest rates.

But this cycle can be broken. Our Irvine bankruptcy lawyers at McFarlin LLP have guided thousands of clients through the insolvency process. Whether you have developed debt from credit cards, student loans, medical bills, late mortgage payments, or taxes, we can give you the insight you need to make the best decision for your circumstances.

We offer a range of bankruptcy services, including:

Call us at (949) 570-5025 for a free consultation to determine whether bankruptcy is right for you.

What Is Bankruptcy?

Bankruptcy is based in consumer protection laws. It is a federal process, which allows you to have your qualifying debts forgiven.

California's insolvency laws are based on forgiveness rather than punishment. The law recognizes that bad things can happen to good people, and sometimes you simply do not have the ability to comply with your creditor's repayment demands.

This law does not seek to deter or regulate certain behavior, as other laws do. It simply recognizes that circumstances beyond your control can only be addressed through the cancellation of debts.

Understanding the Different Chapters of Bankruptcy

Bankruptcy is not a one-size-fits-all remedy and may not be appropriate for everyone. Several types (i.e. chapters) of bankruptcy may apply to your financial situation. One of our experienced attorneys at McFarlin LLP can help you understand the options available to you and can assist you through the bankruptcy process.

Depending on your income, assets, and amount of debt, you may qualify for one of the following:

  • Chapter 7 – This is, by far, the most common type of bankruptcy to file. While it is commonly referred to as liquidation bankruptcy, many Chapter 7 cases discharge all qualifying debts without taking assets from the consumer . This is generally referred to as a “no asset” case. There is no repayment plan in Chapter 7.
  • Chapter 13 – This allows for the reorganization and orderly repayment of debts over time. This procedure, also called the wage earner’s plan, is designed for those with regular income, and it typically lasts for either 3 or 5 years. In Chapter 13, the debtor typically retains all personal property and assets.

It is important to note that each type of bankruptcy has a number of requirements and intricacies. As such, consulting with a lawyer who is experienced in financial insolvency law is strongly advised.

The Benefits of Bankruptcy

One of the most immediate benefits of bankruptcy is the “automatic stay”. This prohibits creditors from taking any further collection actions against you, such as lawsuits, bank levies, foreclosures, or wage garnishments. In many cases, living with financial worry and constant phone calls from bill collectors can have a tremendously negative impact on your day-to-day life and well-being.

Bankruptcy provides much-needed relief from the stress and burden you may be experiencing due to unforeseeable circumstances, such as job loss, divorce, rising mortgage payments, medical bills, or a death in the family.

Get Help from Our Skilled Irvine Bankruptcy Attorneys

If you have questions about bankruptcy and how it can benefit you, please contact McFarlin LLP today to schedule a free consultation with one of our knowledgeable attorneys. We can carefully analyze your financial circumstances and provide the solution you need to build a better financial future.

For honest and dependable legal counsel about bankruptcy and alternative debt-relief options, contact us online or call (949) 570-5025 now.

Hear What Our Clients Are Saying

  • “Everyone I dealt with at this firm was both caring and professional and I thank them.”

    - Len Brown
  • “Tim and his gang of awesome lawyers have helped my family the past five years.”

    - Whitie Rhodes
  • “Their representation was efficient and effective and things worked out in our favor.”

    - Madison Loyola
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