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Lemont Bankruptcy & Debt Lawyer, Illinois

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John Lynch
About | Practice Areas
Lynch Law, LLC
300 E 5th Ave Suite 360 Naperville, IL 60563» view map
Bankruptcy & Debt Law
A Family Approach To Law

Legal matters should only be dealt with by people you trust. Who can you rely on more than people who treat you like family? Trust us to help you today.

800-952-9511
1. John Lynch Naperville, IL
  Attorney at Law- IL, 1998
  Shepard Broad Law Center, J.D. 1998
2. AboutLynch Law, LLC
  A Family Approach To Law
3. Practice AreasExpertise
  Bankruptcy & Debt Law
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John J. Lynch Lawyer

John J. Lynch

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Bankruptcy & Debt

Over 50 Years of Combined Legal Experience! Experienced Illinois Bankruptcy Law AttorneysAre your financial problems forcing you to consider bankru... (more)

FREE CONSULTATION

3333 Warrenville Road, Lisle, IL 60532

Raya D. Bogard

Corporate, Business Successions, Business Organization, Collection

Status: In Good Standing

1001 Warrenville Road, Lisle, IL 60532

Ronald D. Cummings

Real Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

121 Springfield Avenue, Joliet, IL 60435

Lauren Tracy Riddick

Commercial Real Estate, Civil Rights, Bankruptcy

Status: In Good Standing Licensed: 11 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Adam Anderson Price

Commercial Real Estate, Real Estate, Lawsuit & Dispute, Bankruptcy

Status: In Good Standing Licensed: 14 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Adam Price

Commercial Real Estate, Real Estate, Lawsuit & Dispute, Bankruptcy

Status: In Good Standing Licensed: 15 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Lauren Riddick

Commercial Real Estate, Bankruptcy

Status: In Good Standing Licensed: 12 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Martin Potter

Commercial Real Estate, Real Estate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 33 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Rachael A. Stokas

Commercial Real Estate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 23 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

Martin Potter

Commercial Real Estate, Real Estate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 33 Years

15 W030 N Frontage Rd, Willowbrook, IL 60527

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By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Messages from all messaging and voice technologies including Email, Text, Phone, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

LEGAL TERMS

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

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.

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.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

DISCHARGE (OF DEBTS)

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

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