Efland Bankruptcy Lawyer, North Carolina
Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution
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1-4 of 4 matches. Page 1 of 1
127 W King Street, Hillsborough, NC 27278
Profile LAWPOINTS™34/100
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David R. Huffman
Transportation & Shipping, Family Law, Criminal, Bankruptcy
Status: In Good Standing Licensed: 38 Years
103 W Elm St, Graham, NC 27253
Profile LAWPOINTS™32/100
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Barry D. Nakell
Federal Appellate Practice, Civil Rights, Civil & Human Rights, Consumer Bankruptcy
Status: In Good Standing Licensed: 58 Years
149 Dixie Dr, Chapel Hill, NC 27514
Profile LAWPOINTS™24/100
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Jennifer Kathleen Johnson
Copyright, Corporate, Contract, Commercial Bankruptcy
Status: In Good Standing Licensed: 25 Years
Chapel Hill, NC 27516
Profile LAWPOINTS™17/100
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LEGAL TERMS
REAFFIRMATION
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.
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.
GUARANTOR
A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)
A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.
HOUSEHOLDER
A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)
A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.
LIQUIDATING PARTNER
The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.
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.
INFRINGEMENT (OF TRADEMARK)
Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)
Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.
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.
SOLE PROPRIETORSHIP
A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)
A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.
SAMPLE LEGAL CASES
Morales-Rodriguez v. Carolina Quality
... On 9 August 2007, defendants appealed to this Court. These proceedings were
stayed on 23 January 2008 pursuant to 11 USC § 362 by reason of a bankruptcy
proceeding filed by individual defendant, Cynthia Vinson. By ...
Woods v. Mangum
... the Estate. Plaintiffs also filed for federal bankruptcy protection on 29 August 2002
and were released from bankruptcy on 438 3 May 2007. The Mangums' claim was
not discharged as a result of plaintiffs' bankruptcy. The Executrix ...
Moss Creek Homeowners Ass'n v. Bissette
... ("Byron"). Byron filed for bankruptcy protection in 1991, and received its discharge from bankruptcy
on 24 August 2005. ... The Bissettes next argue that the assignment of rights of the Declaration and
the subsequent bankruptcy of Byron renders the covenant unenforceable. ...
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