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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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Justin Sawyer

Civil Rights, Litigation, Credit & Debt, Business

Status: In Good Standing

CONTACT

Albuquerque, NM 87125

Robert Edward Marks

Lawsuit & Dispute, Family Law, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

Albuquerque, NM 87125

Spencer L. Edelman

Transportation & Shipping, Natural Resources, Credit & Debt, Bankruptcy

Status: In Good Standing

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Albuquerque, NM 87103

Nathan S. Stimson

Corporate, Mediation, Credit & Debt, Clean Air Practice

Status: In Good Standing

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Albuquerque, NM 87103

Deron Bradley Knoner

Military & Veterans Appeals, Landlord-Tenant, Corporate, Bankruptcy

Status: In Good Standing

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Albuquerque, NM 87103

Paul M. Fish

Civil Rights, Banking & Finance, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

Albuquerque, NM 87103

Benjamin Thomas

Civil & Human Rights, Banking & Finance, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

Albuquerque, NM 87103

Tomas J. Garcia

Transportation & Shipping, Natural Resources, Workers' Compensation, Credit & Debt

Status: In Good Standing

CONTACT

Albuquerque, NM 87103

Erika N. Poindexter

Estate Planning, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

106 Wellesley Dr Se, Albuquerque, NM 87106

Erenio Gutierrez

Credit & Debt, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Albuquerque, NM 87176

800-923-0641

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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.

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.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

DISCHARGE (OF DEBTS)

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

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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Tome Bankruptcy & Debt Lawyer, New Mexico, page 4

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Justin Sawyer

Robert Edward Marks

Spencer L. Edelman

Nathan S. Stimson

Deron Bradley Knoner

Paul M. Fish

Benjamin Thomas

Tomas J. Garcia

Erika N. Poindexter

Erenio Gutierrez

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LEGAL TERMS

LIMITED PARTNERSHIP

C CORPORATION

DISCHARGEABLE DEBTS

DISCHARGE (OF DEBTS)

PRIORITY DEBT

CURRENT MONTHLY INCOME

DEFINED CONTRIBUTION PLAN

NONEXEMPT PROPERTY

PRESUMED ABUSE

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