Shorewood 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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Ronald D. Cummings

Real Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

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121 Springfield Avenue, Joliet, IL 60435

Adriana Lara

Bankruptcy

Status: In Good Standing Licensed: 18 Years

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2310 Birchwood Lane, Joliet, IL 60435

Amanda Tasker

Bankruptcy, Civil Rights, Estate Planning, Divorce & Family Law

Status: In Good Standing Licensed: 14 Years

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Amber L. Mikula

Residential Real Estate, Family Law, Divorce, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

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15130 S. Rt. 59, #100, Plainfield, IL 60544

Ann Houha

Litigation, Divorce, Corporate, Bankruptcy

Status: In Good Standing Licensed: 23 Years

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181 N Hammes Avenue, Crest Hill, IL 60435

Ann Marie Houha

Litigation, Divorce, Corporate, Bankruptcy

Status: In Good Standing Licensed: 23 Years

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181 N Hammes Avenue, Crest Hill, IL 60435

Anthony Tomkiewicz

Traffic, Criminal, Licensing, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 25 Years

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58 N Chicago St, Crest Hill, IL 60432

Anthony Karl Tomkiewicz

Traffic, Criminal, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 26 Years

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15314 Dan Patch Drive, Plainfield, IL 60544

Ashley Tobie

Commercial Real Estate, Wills, Estate Planning, Bankruptcy

Status: In Good Standing Licensed: 15 Years

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3290 Executive Dr, Joliet, IL 60431

Charles Robert Wolf

Wills & Probate, Estate Planning, Transactions, Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

116 N Chicago St, Joliet, IL 60432

800-923-0641

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LEGAL TERMS

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).

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

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.

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Shorewood Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Ronald D. Cummings

Adriana Lara

Amanda Tasker

Amber L. Mikula

Ann Houha

Ann Marie Houha

Anthony Tomkiewicz

Anthony Karl Tomkiewicz

Ashley Tobie

Charles Robert Wolf

TIPS

LEGAL TERMS

LIEN

NO-FAULT INSURANCE

TRUTH IN LENDING ACT (TILA)

CHAPTER 13 BANKRUPTCY

AUTOMATIC STAY

IRS EXPENSES

PREFERENCE

CURRENT MONTHLY INCOME

BULK SALES LAW

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