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Jon Litty
About | Practice Areas
Litty Law Group, P.C.
500 Marquette Ave NW Suite 1200 Albuquerque, NM 87102» view map
Bankruptcy & Debt and Immigration Law
Albuquerque’s Attorney

I’m Jon Litty and I’m here to serve you, Albuquerque! I will fight to get you what you rightfully deserve.

505-862-5061
1. Jon Litty Albuquerque, NM
  Attorney at Law- NM
  Thomas Jefferson School of Law, J.D. 2015
2. AboutLitty Law Group, P.C.
  Albuquerque’s Attorney
3. Practice AreasExpertise
  Bankruptcy & Debt
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Andrea D. Steiling

Bankruptcy, Corporate

Status: In Good Standing

CONTACT

6709 Academy Rd NE Ste A, Albuquerque, NM 87109

Anne D. Goodman

Bankruptcy, Corporate, Litigation, Transactions

Status: In Good Standing

CONTACT

6709 Academy Rd NE Ste A, Albuquerque, NM 87109

Brett Steinbook

Business, Real Estate, Bankruptcy

Status: In Good Standing

CONTACT

7850 Jefferson N. E., Albuquerque, NM 87109

Mary Elizabeth Dickman

Construction, Consumer Protection, Contract, Credit & Debt

Status: In Good Standing

CONTACT

707 Broadway N. E., Albuquerque, NM 87125

A. Blair Dunn

Corporate, Credit & Debt, Natural Resources, Products Liability

Status: In Good Standing

CONTACT

400 Gold Ave Sw, Albuquerque, NM 87102

Agnes Fuentevilla Padilla

Employee Rights, Employment, Constitutional Law, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Albuquerque, NM 87190

Albert W. Schimmel

Litigation, Estate, Bankruptcy

Status: In Good Standing

CONTACT

320 Gold Ave. SW, Albuquerque, NM 87103

Aletheia Vadin Pamela Allen

Corporate, Credit & Debt, Bankruptcy, Business & Trade

Status: In Good Standing

CONTACT

201 3Rd St Nw, Albuquerque, NM 87102

Alfred Matthew Sanchez

Divorce & Family Law, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

400 Gold Ave Sw, Albuquerque, NM 87102

Alice Nystel Page

Bankruptcy, Credit & Debt

Status: In Good Standing

CONTACT

Albuquerque, NM 87103

800-923-0641

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LEGAL TERMS

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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Belen Bankruptcy & Debt Lawyer, New Mexico

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Andrea D. Steiling

Anne D. Goodman

Brett Steinbook

Mary Elizabeth Dickman

A. Blair Dunn

Agnes Fuentevilla Padilla

Albert W. Schimmel

Aletheia Vadin Pamela Allen

Alfred Matthew Sanchez

Alice Nystel Page

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LEGAL TERMS

LIQUIDATING PARTNER

CHAPTER 13 BANKRUPTCY

DISPOSABLE INCOME

PRESUMED ABUSE

ADMINISTRATIVE EXPENSES

BULK SALES LAW

DISCHARGE (OF DEBTS)

REPOSSESSION

MEANS TEST

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