Business Details
Your Trusted Bankruptcy Attorneys in Dallas
Toronjo & Prosser Law is a dedicated bankruptcy practice serving individuals, families, and small businesses in the Dallas-Fort Worth area. With a client-first philosophy, we specialize in guiding clients through Chapter 7 and Chapter 13 bankruptcy proceedings, debt negotiations, and financial restructuring. Our attorneys, Mark Toronjo and Derek Prosser, bring decades of combined experience in navigating the U.S. Bankruptcy Code and Texas exemptions. We prioritize personalized service, ensuring clients understand their options while receiving trustworthy advice.Our team offers free consultations and affordable payment plans, emphasizing transparency and no hidden fees. Recognized for our expertise, we are Lead Counsel Verified, reflecting our commitment to ethical standards and client advocacy. We serve clients across Texas, including Denton, Fort Worth, McKinney, and Plano, with offices conveniently located in Dallas and Southlake.
Services
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Debt Relief
Bankruptcy Consultation
Business Bankruptcy
Highlights and features
- Experienced in thousands of bankruptcy cases, including complex Chapter 7 and Chapter 13 filings.
- Free initial consultations and affordable payment plans tailored to client needs.
- Personalized legal guidance directly from attorneys, not paralegals or assistants.
- Deep expertise in Texas bankruptcy exemptions and federal law compliance.
- Proven track record in debt negotiation and asset protection strategies.
Associations and certifications
- Lead Counsel Verified
What people say
Expertise in bankruptcy
Professional and friendly
Stress-free process
Successful debt elimination
Prompt communication
Services
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy eliminates unsecured debts through asset liquidation, offering a fresh start. Our attorneys guide clients in Dallas through exemptions to protect property, ensuring compliance with Texas and federal laws. Ideal for those with limited income, this process typically discharges debts within four to six months, halting creditor actions immediately upon filing.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy restructures debts into a 3-5 year repayment plan, allowing clients to retain assets. We assist Dallas residents in negotiating terms with creditors, prioritizing mortgage arrears or tax debts. This option suits individuals with steady income seeking to avoid liquidation while resolving financial obligations under court protection.
Business Bankruptcy
Business Bankruptcy addresses insurmountable commercial debts through Chapter 7 liquidation or Chapter 11 reorganization. Our Dallas firm advises on asset protection, creditor negotiations, and legal structures, ensuring compliance with bankruptcy codes. We help businesses navigate closure or restructuring while minimizing owner liability under various corporate entities.
Debt Negotiation
Debt Negotiation reduces liabilities by restructuring terms with creditors, avoiding bankruptcy. Our Dallas team secures lower interest rates, waived fees, or lump-sum settlements for unsecured debts. This service benefits clients seeking alternatives to bankruptcy while resolving medical bills, credit card debt, or business obligations through strategic advocacy.
Bankruptcy Alternatives
Bankruptcy Alternatives include consolidation, budgeting strategies, and loan modifications to resolve financial distress. We evaluate client circumstances in Dallas to recommend tailored solutions, such as creditor negotiations or asset sales. These options suit individuals prioritizing credit preservation or those ineligible for bankruptcy protections under income thresholds.
People
Derek K. Prosser
Bankruptcy Attorney
Derek Prosser, a Texas-licensed attorney, specializes in Chapter 7 and Chapter 13 bankruptcies. With prior experience in Virginia and Texas, he focuses on client-centered advocacy, emphasizing clear communication and asset protection. Admitted to practice in Texas and federal courts, he holds degrees from the University of North Dakota and University of Houston Law Center.
Mark Toronjo
Bankruptcy Attorney
Mark Toronjo co-founded Toronjo & Prosser Law, offering expertise in debt relief and bankruptcy proceedings. He prioritizes personalized client consultations, ensuring clarity on financial options. With a focus on Dallas-Fort Worth, he advocates for asset protection and tailored debt solutions, leveraging extensive experience in consumer and business bankruptcies.
Questions
What is Chapter 7 Bankruptcy?
Chapter 7 Bankruptcy eliminates unsecured debts through asset liquidation, offering a fresh start. Exemptions protect essential property, and debts are discharged within months.
What are common reasons for filing bankruptcy?
Common reasons include medical debt, job loss, excessive credit use, divorce, and unexpected emergencies. Bankruptcy provides relief from creditor actions and financial stress.
Does filing bankruptcy stop creditor harassment?
Yes, an automatic stay halts wage garnishments, lawsuits, and collection calls immediately upon filing, providing legal protection during bankruptcy proceedings.
What debts are not discharged in bankruptcy?
Non-dischargeable debts include child support, student loans, alimony, and certain taxes. Chapter 7 does not erase secured debts like mortgages unless property is surrendered.
Can I keep my home and car in bankruptcy?
Exemptions allow retention of essential assets like homes and cars if equity limits are met. Chapter 13 offers additional protection through repayment plans.
How do I start the bankruptcy process?
Begin with a free consultation to review financial details. We guide you through document preparation, court filings, and creditor negotiations to initiate protection.
