Kimball County, NE Bankruptcy Lawyers
Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution
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David L. Wilson
Real Estate, Estate Planning, Estate, Natural Resources, Accident & Injury
Status: In Good Standing
116 W 2nd St, Kimball, NE 69145
Profile LAWPOINTS™24/100
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109 S Walnut St, Kimball, NE 69145
Profile LAWPOINTS™15/100
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Easily find Nebraska Bankruptcy Lawyers and Nebraska Bankruptcy Law Firms for your location. Narrow your Bankruptcy attorney search for Nebraska by major city or a specific Nebraska city using the city list. Or search for Nebraska Bankruptcy attorneys by county. For more attorneys, search all Bankruptcy & Debt areas including Collection, Credit & Debt, Reorganization and Workout attorneys.
LEGAL TERMS
SECURED DEBT
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.
FAIR CREDIT REPORTING ACT (FCRA)
A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)
A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.
C CORPORATION
Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)
Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.
NONPROFIT CORPORATION
A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)
A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.
CREDIT COUNSELING
Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)
Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.
WORKOUT
A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.
CCCS
See Consumer Credit Counseling Service.
NONEXEMPT PROPERTY
The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)
The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.
IRS EXPENSES
A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)
A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.
SAMPLE LEGAL CASES
County of Hitchcock v. Barger
... 2. THE BARGERS' FILING FOR BANKRUPTCY EXTENDED THE TIME IN WHICH THE
COUNTY HAD TO FILE THE FORECLOSURE PETITIONS. ... 3. THE COUNTY RECEIVED
NOTICE OF THE BANKRUPTCY DISMISSAL IN MARCH 2002. ...
Metcalf v. Metcalf
... The debts were ultimately discharged in bankruptcy. Kenneth also discovered that
an employee made billing errors in both 2004 and 2005. ... Kenneth has filed a chapter
7 bankruptcy petition and received a discharge in bankruptcy. ...
State ex rel. Wagner v. Gilbane Bldg. Co.
... obligation. Amwest and Gilbane were the only parties to the agreement to release
of the performance bond. These facts are clearly distinguishable from In re FSC
Corp., [18] the bankruptcy case upon which Gilbane relies. In ...
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