Stanley 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
1. Contact
2. Email
3. Refer
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Nephi Hardman

Bankruptcy & Debt, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

9400 Holly Ave NE, Albuquerque, NM 87122

Arun Arjan Melwani

Credit & Debt, Consumer Bankruptcy, Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

10749 Prospect Ave Ne, Albuquerque, NM 87112

Karen Blomberg Grabeklis

Credit & Debt, Bankruptcy, Consumer Bankruptcy

Status: Inactive

CONTACT

13170 Central Ave Se, Albuquerque, NM 87123

Linda S. Bloom

Credit & Debt

Status: In Good Standing Licensed: 48 Years

CONTACT

13170 Central Ave Se, Albuquerque, NM 87123

Sidney P. Childress

Insurance, Credit & Debt, Environmental Law Other, Personal Injury

Status: In Good Standing

CONTACT

1925 Aspen Dr, Santa Fe, NM 87505

Patricia Ann Bradley

Bankruptcy, Credit & Debt, Consumer Bankruptcy, Business & Trade

Status: In Good Standing

CONTACT

10400 Academy Rd Ne, Albuquerque, NM 87111

Jeffrey D. Johnson

Credit & Debt, Clean Air Practice, Wills, Dispute Resolution

Status: In Good Standing

CONTACT

5612 Cometa Ct Ne, Albuquerque, NM 87111

Gini Nelson

Mediation, Clean Air Practice, Family Law, Credit & Debt

Status: In Good Standing

CONTACT

1704 Llano St, Santa Fe, NM 87505

Walter L. Reardon

Corporate, Bankruptcy, Estate Planning, Landlord-Tenant, Credit & Debt

Status: In Good Standing

CONTACT

3733 Eubank Blvd Ne, Albuquerque, NM 87111

James R. Jurgens

General Practice

Status: In Good Standing

CONTACT

100 La Salle Cir, Santa Fe, NM 87505

800-923-0641

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LEGAL TERMS

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.

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.

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.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

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.

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).

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.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

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.

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Stanley Bankruptcy & Debt Lawyer, New Mexico, page 3

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Nephi Hardman

Arun Arjan Melwani

Karen Blomberg Grabeklis

Linda S. Bloom

Sidney P. Childress

Patricia Ann Bradley

Jeffrey D. Johnson

Gini Nelson

Walter L. Reardon

James R. Jurgens

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LEGAL TERMS

PREFERENCE

WORKOUT

SOLE PROPRIETORSHIP

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

FRAUDULENT TRANSFER

LIEN

C CORPORATION

FAIR LABOR STANDARDS ACT (FLSA)

BANKRUPTCY

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