Vallecitos Bankruptcy & Debt Lawyer, New Mexico, page 5

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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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Not enough matches for Vallecitos Bankruptcy & Debt lawyer.
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Joseph E. Caldwell

General Practice

Status: In Good Standing

CONTACT

1181 Don Bernabe Garcia Ln, El Prado, NM 87529

Jacob Daniel Caldwell

Commercial Real Estate, Business & Trade, Corporate, Estate Planning

Status: In Good Standing

CONTACT

1181 Don Bernabe Garcia Ln, El Prado, NM 87529

L Lane Rigsby

General Practice

Status: Inactive Licensed: 33 Years

CONTACT

Embudo, NM 87531

Kelan Emery

Commercial Real Estate, Corporate, Family Law, Estate Planning

Status: In Good Standing

CONTACT

309 Salazar Rd, Taos, NM 87571

Julia Lacy Armstrong

Commercial Real Estate, Litigation, State Appellate Practice, Business & Trade, Constitutional Law

Status: In Good Standing

CONTACT

218 Beimer St, Taos, NM 87571

Roy L. Armstrong

Commercial Real Estate, Litigation, Gift Taxation, Administrative Law

Status: In Good Standing

CONTACT

218 Beimer St, Taos, NM 87571

Stephen Natelson

Estate, Lawsuit & Dispute, Real Estate

Status: In Good Standing

CONTACT

411 Camino de La Placita, Taos, NM 87571

Erik Schlenker-Goodrich

Transportation & Shipping, Natural Resources, Environmental Law Other, Public Law

Status: In Good Standing

CONTACT

208 Paseo Del Pueblo Sur, Taos, NM 87571

Judith Miller Kasper

Federal, Commercial Real Estate, Estate, Military & Veterans Appeals, Power of Attorney

Status: In Good Standing

CONTACT

411 Camino De La Placita, Taos, NM 87571

Richard De Stefano

General Practice

Status: In Good Standing

CONTACT

411 Camino De La Placita, Taos, NM 87571

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LEGAL TERMS

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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.

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.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

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.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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.

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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Vallecitos Bankruptcy & Debt Lawyer, New Mexico, page 5

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Joseph E. Caldwell

Jacob Daniel Caldwell

L Lane Rigsby

Kelan Emery

Julia Lacy Armstrong

Roy L. Armstrong

Stephen Natelson

Erik Schlenker-Goodrich

Judith Miller Kasper

Richard De Stefano

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LEGAL TERMS

GUARANTEED RESERVATION

SOLE PROPRIETORSHIP

ADMINISTRATIVE EXPENSES

GARNISHMENT

CURRENT MONTHLY INCOME

PRESUMED ABUSE

SECURED DEBT

FRATERNAL BENEFIT SOCIETY BENEFITS

BANKRUPTCY

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