Repayment Plans

Debt Repayment Plans in Cuyahoga County 

Understanding Your Bankruptcy Options

At Van Ness Law, we understand that filing for bankruptcy can be a stressful experience. That's why we offer a variety of  debt repayment plans to help you get back on your feet. Our experienced bankruptcy attorneys will work with you to create a plan that fits your unique financial situation.

To discuss your bankruptcy options with our experienced firm, contact Van Ness Law online or call (440) 650-1787. We offer free initial consultations with our Cuyahoga County bankruptcy lawyers.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows individuals to reorganize their debt and create a repayment plan over a three to five year period. The plan will be based on your income and expenses, and may include reduced payments or extended repayment terms. Our bankruptcy attorneys will work with you to create a plan that is manageable and affordable.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy allows individuals to discharge certain debts, such as credit card debt and medical bills. However, not all debts are dischargeable under Chapter 7 bankruptcy. Our bankruptcy attorneys will evaluate your financial situation and help you determine if Chapter 7 bankruptcy is the right choice for you.

Debt Consolidation

Debt consolidation is a repayment plan that combines multiple debts into one monthly payment. This can make managing your debt easier and more affordable. Our attorneys will work with your creditors to negotiate reduced interest rates and payment terms.

Credit Counseling

Credit counseling can be a helpful tool for those struggling with debt. Our attorneys can connect you with reputable credit counseling agencies that can help you create a budget and develop a plan to repay your debts.

Repayment Plan Modifications: Adapting to Changing Circumstances

If your financial situation has changed during a Chapter 13 bankruptcy or debt repayment plan, you may be eligible to modify your terms. Life changes, like job loss or medical emergencies, can affect your ability to keep up with your plan. Here’s how we can help:

  • Reduce monthly payments based on new income or expenses
  • Extend repayment terms to make payments more manageable
  • Restructure debt to reflect your updated financial situation

Our attorneys will guide you through the modification process, ensuring your plan remains achievable and sustainable.

Tax Implications of Debt Relief: Plan for the Future

Debt relief can provide immediate relief, but it may come with tax consequences. Some debt forgiveness or discharge in bankruptcy could be taxable. Here’s what you need to know:

  • Canceled debt may be taxable as income
  • Bankruptcy may result in IRS forms (1099-C) for canceled debt
  • Plan for tax consequences to avoid surprises

Our attorneys will help you understand the tax implications and develop strategies to minimize any potential burden. Let us guide you in making the best financial decisions.

Contact Our Debt Repayment Plan Lawyers

If you are struggling with debt, contact Van Ness Law today to schedule a consultation. Our experienced bankruptcy attorneys will help you explore your options and create a repayment plan that works for you

To discuss your bankruptcy options with our experienced firm, contact Van Ness Law online or call (440) 650-1787. We offer free initial consultations with our Cuyahoga County bankruptcy lawyers.

Client Reviews

Read What They Say About Us
  • “I can enthusiastically recommend Van Ness Law to anyone considering bankruptcy.”
    “Charles is very good at explaining the various aspects of the process and answers any questions in a timely manner.”
    - GN
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    “I was also treated with respect and never felt ashamed or embarrassed because of the bankruptcy.”
    - Degra S.
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    “Glad I found him. Great guy! Thank you for your help and for being so thorough.”
    - Former Client
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    “Such a sigh of relief to be on the other side of our situation now with all the help they provided.”
    - Keith C.
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  • “Mr. Charles Van Ness is a great man to whomever is in need of his service”
    Mr. Charles Van Ness is a great man to whomever is in need of his service I would strongly recommend him to you… even though I did not accomplish anything from the estate he did work hard to try and do so I appreciate the effort and blessings to his
    - Anna W.
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    “My attorney Mr. Van Ness provided great assistance with my Bankruptcy”
    - Bianca M.