Hecker Bankruptcy Lawyer, Illinois

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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Carla Ehlers

Bankruptcy, Divorce, Estate Planning, Transactions
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  40 Years

Carla J. Ehlers

Real Estate, Estate, Divorce & Family Law, Transactions, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  39 Years

Don Cary Collins

Divorce & Family Law, Criminal, Bankruptcy, Personal Injury, DUI-DWI
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  49 Years

Alana Mejias

Divorce, Elder Law, Bankruptcy, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  18 Years

Charles Courtney

Traffic, Divorce, DUI-DWI, Bankruptcy, Estate Planning
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  39 Years

Donald M. Samson

Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  47 Years

Stanley Weller

Divorce & Family Law, Criminal, Transactions, Bankruptcy, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  38 Years

Richard G. Reed

Workers' Compensation, Criminal, Bankruptcy, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  49 Years

Russell Curtis Simon

Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  34 Years

Allen George Mealey

Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

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

Member Representative

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

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LEGAL TERMS

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)
A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

FCBA

See Fair Credit Billing Act.

LIQUIDATING PARTNER

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

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)
In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)
Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)
A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)
The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

SAMPLE LEGAL CASES

Economy Fire & Cas. Co. v. Brumfield

... Appellees and Cross-Appellants, v. Hollis L. BRUMFIELD, Defendant and Counterplaintiff- Appellant and Cross-Appellee, and Michael J. Drewes; Constance Drewes; Beau Drewes; Zachary Fitzpatrick; Dan Fitzpatrick; Cindy Fitzpatrick; Steve Miller, Trustee in Bankruptcy for the ...

Seip v. Rogers Raw Materials Fund, LP

... Upon learning this, Beeland immediately sought to have the assets transferred either to Refco, LLC, or back to the original brokerage accounts. D. Refco Bankruptcy and the Special Redemption Letter. ... (2006)). Refco, LLC, filed for bankruptcy as well in November 2005. ...

Giannini v. Kumho Tire USA, Inc.

... While there are no Illinois cases addressing the stay granted in Rule 306, Garbe Iron Works held that the two-year statute of limitations for filing a mechanics' lien foreclosure was tolled by the automatic stay provision contained in the Federal Bankruptcy Act (11 USC § 362(a)(1 ...

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