Chippewa Lake Reorganization Lawyer, Michigan

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James R. Samuels

Criminal, Collection
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

John W. Lewis

Land Use & Zoning, Family Law, Insurance, Bankruptcy
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Peter M. Jaklevic

Real Estate, Criminal, Business, Consumer Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  32 Years

Russell E. Lewis

Other, Government, Criminal, Collection
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  40 Years

Tara S. Hovey

Family Law, Elder Law, Contract, Collection
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Becky J. Bolles

Wills & Probate, Estate, Divorce & Family Law, Corporate, Collection
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  28 Years

Michael C. Hyde

Estate, Divorce & Family Law, Elder Law, Contract, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Lesley A Hoenig

Landlord-Tenant, Estate, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  17 Years

David J. Gilbert

Criminal, Elder Law, Contract, Collection, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  26 Years

David T. McAndrew

Wills & Probate, Trusts, Estate Planning, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

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CONTACT

Free Help: Use This Form or Call 800-814-6700

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Free Help: Use This Form or Call 800-814-6700

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LEGAL TERMS

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)
A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

FCRA

See Fair Credit Reporting Act.

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.

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)
A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

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