Saginaw Credit & Debt Lawyer, Michigan

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Troy Green

Credit & Debt, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           

Michael C. Weiss

Medicare & Medicaid, Family Law, Elder Law, Credit & Debt
Status:  In Good Standing           Licensed:  47 Years

Kimberly A. Kramer

Foreclosure, Credit & Debt, Consumer Bankruptcy, Bankruptcy
Status:  In Good Standing           Licensed:  26 Years

W. Jay Brown

Construction, Contract, Credit & Debt, Defamation & Slander
Status:  In Good Standing           

Jay W. Brown

Contract, Credit & Debt, Defamation & Slander, Construction
Status:  In Good Standing           Licensed:  26 Years

Edward H. Powers

Construction, Mediation, Contract, Credit & Debt
Status:  In Good Standing           Licensed:  57 Years

Dawn Marie Weier

Conveyancing, DUI-DWI, Contract, Credit & Debt
Status:  In Good Standing           Licensed:  23 Years

Seth Lantz Neblock

Landlord-Tenant, Elder Law, Contract, Credit & Debt
Status:  In Good Standing           Licensed:  12 Years

Nancy E. Gallagher

Trusts, Family Law, Contract, Credit & Debt
Status:  In Good Standing           

Maynard F. Newman

Construction, Federal Appellate Practice, Contract, Credit & Debt
Status:  In Good Standing           Licensed:  22 Years

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Free Help: Use This Form or Call 800-943-8690

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800-943-8690

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LEGAL TERMS

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)
A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)
A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)
The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

CCCS

See Consumer Credit Counseling Service.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)
In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)
A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)
A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)
A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

SAMPLE LEGAL CASES

New Freedom Mtg. Corp. v. Globe Mtg. Corp.

... at 1238, 44 Cal.Rptr.2d 352, 900 P.2d 601. When a mortgagee makes a full credit bid, the mortgage debt is satisfied, and the mortgage is extinguished. Bank of Three Oaks v. Lakefront Properties, 178 Mich.App. 551, 555, 444 NW2d 217 (1989). ...

Barth v. FIRST CONSUMER CREDIT, INC.

... arise under or relate to the contract. Defendant's alleged debt-collecting activities are inseparable from the credit relationship established by the terms of the installment contract. [1] Because plaintiffs' claims are arguably within ...

CHARTER ONE BANK NA v. JP Morgan Chase Bank, NA

... [MCL 565.901(b).]. By contrast, defendant characterizes the Bensons' additional debt obligations secured by the mortgage as credit debt issued pursuant to their personal guaranty, which was secured by the mortgage. Importantly ...