Accomplished Ohio Attorney Helps Clients Manage Debt Through the Bankruptcy Process
Helping protect families from creditors through debt relief negotiation, bankruptcy and foreclosure defense
If you are struggling with debt and being hounded by creditors, the law provides protections. Bankruptcy offers the opportunity for you to get a fresh financial start and allows for protection from creditors’ collection efforts. With offices in Columbus, Cleveland and Cincinnati, Cottone Law Office, LLC advises clients on whether bankruptcy is right for them and represents their interests in debt settlement negotiations or the foreclosure process. At my firm, I take an inventory of your outstanding debts and work to develop a thorough debt relief strategy based on my knowledge of the law. My goal is to provide my clients with complete and compassionate representation that addresses their concerns and provides relief during such a stressful time.
Legal advocate represents clients in debt settlement negotiation
Debt settlement gives the debtor the opportunity to negotiate directly with creditors in an effort to settle that debt for less than they originally owed. The strategy can work for debts that are already delinquent, but it’s a daunting process. I can help you determine if such settlement discussions are best for your legal and financial needs and represent your interests in the negotiation process.
Dedicated attorney helps you choose the right bankruptcy method
The federal Bankruptcy Code allows both individuals and businesses multiple options to settle their debt issues. The two most common types of consumer bankruptcy are:
- Chapter 7 bankruptcy — Under Chapter 7, the filer must first pass the means test, which proves that they do not have enough nonessential income/assets to feasibly pay back what they owe. A trustee will be assigned to the case and collect any assets that are deemed nonexempt (such as a vacation home or a second car) and sell them to repay a portion of the debt. Filers would then qualify for nonexempt debts to be discharged. All of the person/entity’s debts are classified as either exempt or nonexempt based on federal guidelines. Exempt debts can’t be discharged through bankruptcy and include school loan payments, taxes and child support. Nonexempt debts like credit card and medical debts are usually eligible to be dismissed. Once the process is finished, most general unsecured debts are eliminated.
- Chapter 13 bankruptcy — Chapter 13 bankruptcy is designed for people who have a regular income and are looking to keep certain assets. They must have enough income left over each month to pay back at least a portion of their debts through a repayment plan that spans three to five years. This type of bankruptcy allows you to keep your property and stops collection actions until a manageable repayment plan can be established.
With nearly two decades of experience, I have the knowledge and dedication to find the right debt relief option for you.
Contact an accomplished and dedicated Columbus bankruptcy attorney for a consultation
At Cottone Law Office, LLC, I take pride in providing thorough, personalized debt relief solution for Ohioans through the bankruptcy or debt negotiation process. I am prepared to represent clients statewide through my Columbus, Cincinnati, and Cleveland offices. To set up a free consultation, contact me at 855-431-5154 or online.