Conway Bankruptcy Lawyer, Massachusetts
Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution
SPONSORED LAWYERS
1-6 of 6 matches. Page 1 of 1
36 Service Center Road, Northampton, MA 01061
Profile LAWPOINTS™42/100
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36 Service Center Road, Northampton, MA 01061
Profile LAWPOINTS™40/100
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36 Service Center Road, Northampton, MA 01061
Profile LAWPOINTS™38/100
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355 Bridge Street, Northampton, MA 01060
Profile LAWPOINTS™24/100
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161 Colrain Stage Road, Heath, MA 01346
Profile LAWPOINTS™22/100
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644 Newton St, South Hadley, MA 01075
Profile LAWPOINTS™15/100
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Easily find Conway Bankruptcy Lawyers and Conway Bankruptcy Law Firms. For more attorneys, search all Bankruptcy & Debt areas including Collection, Credit & Debt, Reorganization and Workout attorneys.
LEGAL TERMS
S CORPORATION
A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)
A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.
LIEN
The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)
The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).
CCCS
See Consumer Credit Counseling Service.
FRATERNAL BENEFIT SOCIETY BENEFITS
These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)
These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.
CREDIT BUREAU
A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)
A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.
PREFERENCE
A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)
A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.
CREDIT FILE
See credit report.
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.
BANKRUPTCY
A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)
A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.
SAMPLE LEGAL CASES
Hundley v. Marsh
... COWIN, J. This case arises from the bankruptcy proceeding of Kirk Hundley (husband). ... Only
the husband generated income in the relevant tax year. The trustee of the husband's bankruptcy
estate, Janice Marsh (trustee), claimed the entire refund for the estate. ...
Milliken & Company v. Duro Textiles, LLC
... liquidation. Old Duro retained bankruptcy counsel, and Patriarch offered to provide
debtor-in-possession financing and exit financing on emergence in the event that
Old Duro wanted to put together a bankruptcy plan. Around ...
One to One Interactive, LLC v. Landrith
... In 2004, the judge, on Landrith's summary judgment motion, ruled that the proposed term
sheet constituted a binding contract. In response, OTO filed a voluntary petition for
bankruptcy under Chapter 11 of the Bankruptcy Code in March, 2005. ...
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