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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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John J. Lynch

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Bankruptcy & Debt

Over 50 Years of Combined Legal Experience! Experienced Illinois Bankruptcy Law AttorneysAre your financial problems forcing you to consider bankru... (more)

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800-952-9511

3333 Warrenville Road, Lisle, IL 60532

Steven H. Mevorah

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Divorce & Family Law, Immigration, Personal Injury, Criminal, Bankruptcy

Steven H. Mevorah is the founder of Mevorah & Giglio Law Offices and began his practice in 1979. Mr. Mevorah brings significant experience to bear in ... (more)

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630-932-9100

900 E. Roosevelt Rd., Lombard, IL 60148

Robert Schaller

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Bankruptcy & Debt, Lawsuit & Dispute, Tax, Accident & Injury, Real Estate

BANKRUPTCY, TAX, WILLS & TRUST ATTORNEY & REGISTERED CPA | EXPECT THE BEST | 38+ YEARS OF EXPERIENCE

Attorney Robert Schaller treats every client like family, giving them the time and personal attention they deserve. The law firm offers both in-office... (more)

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630-655-1301

700 Commerce Drive, Oak Brook, IL 60523

Raya D. Bogard

Corporate, Business Successions, Business Organization, Collection

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1001 Warrenville Road, Lisle, IL 60532

Bernard J. Toussaint

Corporate, Business Organization, Banking & Finance, Bankruptcy

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2500 South Highland Avenue, Lombard, IL 60148

David N. Tanner

Corporate, Business Organization, Banking & Finance, Bankruptcy

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2500 South Highland Avenue, Lombard, IL 60148

Christina Brotto

Banking & Finance, Bankruptcy, Corporate, Business Organization

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2500 South Highland Avenue, Lombard, IL 60148

David W. Nordin

Bankruptcy, Credit & Debt, Family Law, Litigation, Estate Planning

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Naperville Executive Center, 1555 Naperville/Wheaton Rd., Naperville, IL 60563

Richard Hirsh

Foreclosure, Bankruptcy, Business, Credit & Debt

Status: Licensed: 49 Years

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1500 Eisenhower Lane, Lisle, IL 60532

Michael J. Drabant

Wills & Probate, Trusts, Estate Planning, Collection

Status: Licensed: 16 Years

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200 W. 22nd Street, Lombard, IL 60148

800-814-6700

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LEGAL TERMS

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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.

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.

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.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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).

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Downers Grove Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

John J. Lynch

Steven H. Mevorah

Robert Schaller

Raya D. Bogard

Bernard J. Toussaint

David N. Tanner

Christina Brotto

David W. Nordin

Richard Hirsh

Michael J. Drabant

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LEGAL TERMS

MEANS TEST

TRUTH IN LENDING ACT (TILA)

C CORPORATION

FRATERNAL BENEFIT SOCIETY BENEFITS

BANKRUPTCY

MEETING OF CREDITORS

UNSECURED DEBT

PREFERENCE

LIEN

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