Over 25 Years of Experience

as a Bankruptcy Attorney Specialist

As A California Bankruptcy Attorney
Since 1995, the Tyson Firm has dedicated itself to assisting individuals, families and small businesses in California, experiencing financial hardship. In a world of exorbitant attorneys’ fees and questionable results, Tyson M. Takeuchi provides vigorous and affordable representation to the people who need it most.

Certified Bankruptcy Specialist

Since the beginning of his career, Mr. Takeuchi has focused on bankruptcy law and consumer rights, preferring to master the intricacies of the bankruptcy process and offer this profound expertise to his clients. His passionate devotion has earned him certification as a Bankruptcy Specialist by the State Bar of California and the American Board of Certification.
bankruptcy attorney

What Does That Mean

Well, consider this: there are over 175,000 actively practicing attorneys in California. Only 125 of them are certified bankruptcy specialists. That means fewer than 0.00001% of California attorneys have the distinction of being qualified Bankruptcy Specialists!
bankruptcy attorney


When it comes to bankruptcy, you deserve the best. Why risk your future with someone who may be unqualified? With Mr. Takeuchi, you won't have to worry. As one of the most qualified bankruptcy attorneys in the state, Mr. Takeuchi will make sure you get the fresh start you deserve.
tyson takeuchi
Tyson Takeuchi


Foreclosure – Wage Garnishment – Bank Levy – Lawsuit – Repossession Stop foreclosure of your home Stop all garnishments, levies and collection actions Consolidate debt with Court-approved repayment plans Eliminate some or all of your debt


Save Home – Vehicle – Assets – Retirement

Force the bank to accept a payment plan for mortgage arrears
Pay off your vehicle and get your pink slip
Keep and protect your assets
Invest in the future: 401K, IRA, and other employer programs are protected

Bankruptcy attorney specialist

Chapters 7 and 13

The Tyson Firm specializes in two chapters of Title 11 of the U.S. Bankruptcy Code:

Chapter 7

Chapter 7 bankruptcy is for individuals or entities whose expenses are greater than its income. It is the most common bankruptcy filing in the country, and the economic hardships necessitating it are wide and many. People experiencing sudden illness, tax debts and, increasingly, unemployment turn to chapter 7 bankruptcy for the discharge of their debts and a fresh start.


Also known as a liquidation bankruptcy, chapter 7 allows for the sale of a debtor’s “non-exempt” assets to pay off the debt. A debtor may, however, claim over $21,000 exemptions on his or her property to prevent . The vast majority of chapter 7 debtors do not possess more than $21,000 in assets to begin with, do not lose a single item of property to liquidation, and still enjoy the possibility of a discharge of their debts.


Upon filing of a Chapter 7 bankruptcy, all attempts to collect on a debt by the debtors creditors are immediately prevented by the “Automatic Stay,” one of the most powerful tools available to bankruptcy debtors. The automatic stay is an enjoinder that prevents any collection attempt by a creditor, whether it be a repossession, foreclosure, garnishment or levy to allow for the debtor’s debts to be resolved by the bankruptcy. Any creditor who attempts collection efforts while the stay is in effect may be subject to penalties imposed by the Court.

Bankruptcy attorney specialist

Chapter 13

People in receipt of a Notice of Trustee Sale, Notice of Default, or in need of protecting assets in danger of repossession often consider Chapter 13 bankruptcy. Commonly known as “individual debt adjustment”, “individual debt consolidation”, or “repayment plan”. A Chapter 13 can only be filed by individuals. A typical case generally involves someone who has fallen behind in his mortgage payments, become delinquent with his priority taxes, or has debts that are generally non-dischargeable in a Chapter 7 (student loans, child support arrears, taxes and others).


Filing a Chapter 13 plan of reorganization takes into assumption that the individual has a source of income. Such income exceeds the individual’s household expenses. In essence, the individual has disposable income to be able to fund the plan of reorganization over 36 or 60 months.


Think of Chapter 13 as debt consolidation with a few perks. No more, no less. While paying back one’s debt may not sound like an advantage, a chapter 13 debtor has the power to propose a payment plan that, with the court’s approval, all creditors must accept. Depending on the debtor’s income, this plan may pay back only a small fraction of the total debt. Upon successful completion of the bankruptcy, any remaining unpaid debt may be discharged by the Court.


Chapter 13 has additional perks. Only in this type of bankruptcy can a homeowner strip–or avoid–a second deed of trust from their home. Doing so requires that the value of the home be less than the principal owed to the first trust deed holder.


Finally, the automatic stay comes into play in chapter 13 cases as well. Paired with its ability to force creditors into accepting payments according to a plan proposed by the debtor, chapter 13 is especially well-suited to saving homes from foreclosure and paying back federal and state tax debts.

bankruptcy law
bankruptcy liens



Both Junior Liens Arising from Second Deeds of Trusts and Judgement Liens Arising from Lawsuits & Abstracts of Judgmen



In bankruptcy, it is possible to retrieve funds that have been garnished from paychecks or levied from bank accounts



In bankruptcy, taxes are dischargeable if they meet certain conditions including tax fraud and tax evasion

It pays to educate yourself prior to calling a bankruptcy attorney. Then, you can ask for more precise questions based on a greater understanding of the process. To help, we have compiled a list of commonly asked questions.


This is an understandably important question, given our client’s precarious financial circumstances. We understand the irony of asking for exorbitant fees from clients who don’t have a lot of cash. That said, we have made it our mission to offer the most competitive prices possible.
No. The Court will set a hearing 30-40 days after the case is filed to determine whether or not the case should be allowed to proceed. Cases that are deemed too problematic to continue (incorrectly filed paperwork, fraud, and other violations of the Bankruptcy Code) will typically result in a dismissal of the case without discharge. That means the debt is still owed, and that is why it is especially important to consult with a bankruptcy attorney prior to filing bankruptcy. In a chapter 13 bankruptcy, a debtor must make monthly payments for the entire duration of the case (typically, 36-60 months) before being considered for a discharge.
In order to qualify, your household must make less than your state’s median family income. For example, if you are an individual living alone seeking to file chapter 7, you must have made less than $47,243 in gross income in the last twelve months. Income limits move along a scale depending on household size, so let us help determine if you qualify or not.
You can have up to $600k in equity in your home and qualify for a bankruptcy. Certain requirements need to be met. Please call our office to see if you qualify.
It will, but only as soon as the case is filed. Unfortunately, bankruptcy’s ability to prevent garnishment or levy retroactively is not guaranteed. Please read our page on garnishment and levies that occur prior to bankruptcy filing. Upon receipt of an earnings withholding or levy order, your best bet is to consult a bankruptcy attorney immediately, and should a bankruptcy case be feasible, ensure it is filed before your paycheck or bank account are cleaned out.
There is a chance, and time is of the essence. Recovery of garnished and levied funds can quickly become a complicated and time-consuming experience. As soon as you’re able, consult with a bankruptcy attorney to determine, firstly, if bankruptcy is right for you and, secondly, the course of action for recovering that money.
In the vast majority of our cases, we do appear in Court with our clients. The primary factor in determining whether we will be present or not is geography, so please go over this with the attorney during the free consultation.
A chapter 7 proceeding may take 4-6 months depending on the district and division it is filed in.
The bankruptcy will be reported on your credit for 10 years after the date-of-filing. While no sane creditor would lend to you while you’re in a pending bankruptcy proceeding, we have found many of our clients are able to re-build their credit 1-2 years after discharge, going so far as to find financing for new cars and even homes.
Our experience has taught us that some landlords may refuse to rent to you, but many will be happy to rent to you provided your credit score meets their minimum requirements. The key is persistence, and for every one landlord your find who will not work with you because of a prior bankruptcy, you will find several others who will.
Technically, the moment a bankruptcy is filed is the moment any foreclosure or similar collection action is barred. Realistically, your bankruptcy attorney will need a little extra time to prepare, review and file your bankruptcy papers (the bankruptcy petition). Upon receiving the Notice of Trustee Sale of your property, immediately seek help from a bankruptcy attorney. Your home may depend on it. If the case is filed even a second too late, it is extremely unlikely the foreclosure can be rescinded.
Unfortunately, no. You may, however, force a lender to accept payments of the student loan through a chapter 13 bankruptcy. Please consult the attorney before deciding on this course of action.
Several factors determine the amount of a monthly payment. The first is the amount of debt to be paid over the course of the chapter 13 plan. If your 60-month plan proposes to pay back $20,000 in mortgage arrears and $1,000 in attorney’s fees, expect to pay an additional 10% in trustee’s fees. This will mean a minimum monthly plan payment of $385, provided you only have $385 per month to give. Any unpaid debt at the end of the plan will be discharged. The second determination of payment amount is how much disposable income you have (income minus living expenses). Let’s say you propose the same plan to pay back $20,000 in mortgage arrears over 60 months, but you have $500 in disposable income. The Court will order that you pay $500 a month for 60 months or pay $500 a month until all your debts are paid, whichever comes first.
Yes. As a chapter 13 debtor, you are required to turn over your tax returns to the chapter 13 trustee for the life of the case. Should the trustee determine that you are making significantly more money than you were at the time you filed your case, the trustee may request that your monthly plan payment be increased in order to pay back a greater portion of your debt.
Yes. Provided you can support your request for a reduced plan payment, your attorney may file a motion to reduce your monthly plan payment or even forgive missed plan payments.
Depending on which chapter you file, this can be handled in a number of ways. In chapter 7, it’s very likely you can forget all about it, as the vast majority of debts are simply discharged. In chapter 13, it’s the creditors responsibility to file a claim in your case in order to receive any payouts from your chapter 13 plan. No claim, no payout, and assuming you complete the chapter 13, no more debt. If the creditor does file a claim, your attorney may object to it provided the basis of that objection is legitimate (fraud, debt created by another in your name, etc.).
Unfortunately, the Bankruptcy Court has no power to compel a lender to reduce monthly mortgage payments to help the debtor. You must seek modification of the loan on the bank’s terms, and the process is unlikely to be easy. Our experience has been that persistence and careful record-keeping are the best methods for a successful loan modification, but by no means is modification of the home loan guaranteed.

What New Law is there for a Bankruptcy

A new law has passed which allows individuals to qualify to file a bankruptcy, if their equity on their home is no more than $600,000. Basically you can have up to $600k in equity in your home and qualify for a bankruptcy. There are some restrictions to this new law.  Please call our office to see if you qualify for a bankruptcy.


The Law Office of Tyson Takeuchi is a federally designated Debt Relief Agency as defined in the 2005 amendments to the United States Bankruptcy Code. This law firm provides legal advice regarding the pros and cons of filing bankruptcy and represents people and small businesses in filing for bankruptcy relief under the United States Bankruptcy Code.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

Contact: 1055 Wilshire Blvd Suite 850, Los Angeles, CA 90017
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