Ponderosa Bankruptcy & Debt Lawyer, New Mexico, page 3

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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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Douglas George Booth

Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

1223 S Saint Francis Dr, Santa Fe, NM 87505

Francesca Lobato

Bankruptcy

Status: In Good Standing

CONTACT

310 Catron St, Santa Fe, NM 87501

Abigail Sullivan-Engen

Credit & Debt, Bankruptcy, Consumer Bankruptcy

Status: In Good Standing

CONTACT

Santa Fe, NM 87504

Rebecca A. Torres

Civil & Human Rights, Collection, Estate Planning, Water

Status: In Good Standing

CONTACT

Rio Rancho, NM 87174

Scot Sauder

Health Care Other, Bankruptcy, Elder Law, Commercial Real Estate

Status: Inactive Licensed: 42 Years

CONTACT

Corrales, NM 87048

Richard J. Rubin

Credit & Debt, Bankruptcy, Consumer Bankruptcy

Status: In Good Standing

CONTACT

1300 Canyon Rd, Santa Fe, NM 87501

Walter Merrill Lowney

Credit & Debt, Bankruptcy, Consumer Bankruptcy

Status: Inactive

CONTACT

10320 Cottonwood Park NW, Albuquerque, NM 87114

Pamela Judith Crane

Patent, Entertainment, Corporate, Credit & Debt

Status: In Good Standing

CONTACT

Santa Fe, NM 87592

Jason Collis Bousliman

Insurance, Landlord-Tenant, Credit & Debt, Property Damage

Status: In Good Standing

CONTACT

6501 Eagle Rock Ave Ne, Albuquerque, NM 87113

Dylan O'Reilly

Landlord-Tenant, Mediation, Corporate, Credit & Debt

Status: In Good Standing

CONTACT

Santa Fe, NM 87504

800-923-0641

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LEGAL TERMS

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

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.

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.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

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Ponderosa Bankruptcy & Debt Lawyer, New Mexico, page 3

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Douglas George Booth

Francesca Lobato

Abigail Sullivan-Engen

Rebecca A. Torres

Scot Sauder

Richard J. Rubin

Walter Merrill Lowney

Pamela Judith Crane

Jason Collis Bousliman

Dylan O'Reilly

TIPS

LEGAL TERMS

GUARANTOR

ABUSE

DISPOSABLE INCOME

WINDING UP

HOUSEHOLDER

ADMINISTRATIVE EXPENSES

IRS EXPENSES

BULK SALES LAW

FRAUDULENT TRANSFER

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