Oak Park Bankruptcy & Debt Lawyer, Illinois

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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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Craig Smith

Commercial Real Estate, Litigation, Civil Rights, Collection

Status: Licensed: 29 Years

CONTACT

1011 Lake St, Oak Park, IL 60301

Francis Edward Stepnowski

Employee Rights, Civil Rights, Insurance, Bankruptcy

Status: Licensed: 41 Years

CONTACT

1515 N Harlem Ave, Oak Park, IL 60302

Elizabeth C. Simon

Employee Rights, Civil Rights, Credit & Debt, Household Mold

Status: Licensed: 42 Years

CONTACT

234 Franklin Ave, River Forest, IL 60305

Michelle Diane Orton Loftus

Commercial Real Estate, Wills & Probate, Transactions, Bankruptcy

Status: Licensed: 29 Years

CONTACT

311 South Blvd., Oak Park, IL 60302

Jeffrey Scott Harris

Real Estate, Litigation, Divorce & Family Law, Bankruptcy & Debt, Personal Injury

Status:

CONTACT

1701 S. First Ave, Maywood, IL 60153

Lawrence Drumm

Litigation, Business, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 30 Years

CONTACT

177 N. Humphrey Ave., Oak Park, IL 60302

George I. Sarolas

Family Law, Divorce, Transactions, Bankruptcy

Status: Licensed: 41 Years

CONTACT

7234 W North Ave, Elmwood Park, IL 60707

David Koch

DUI-DWI, Estate Planning, Divorce, Bankruptcy, Dispute Resolution

Status:

CONTACT

5947 West 35Th Street, Cicero, IL 60804

Julita Kocinski

Estate Planning, Divorce, Transactions, Bankruptcy

Status: Licensed: 24 Years

CONTACT

3311 North Harlem, Chicago, IL 60634

Gary Paul Mcfarling

Family Law, Divorce, Divorce & Family Law, Bankruptcy

Status:

CONTACT

1701 S 1St Ave, Maywood, IL 60153

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LEGAL TERMS

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

CREDIT FILE

See credit report.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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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Oak Park Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Craig Smith

Francis Edward Stepnowski

Elizabeth C. Simon

Michelle Diane Orton Loftus

Jeffrey Scott Harris

Lawrence Drumm

George I. Sarolas

David Koch

Julita Kocinski

Gary Paul Mcfarling

TIPS

LEGAL TERMS

HOUSEHOLDER

LIMITED PARTNERSHIP

LOSS DAMAGE WAIVER (LDW)

NONEXEMPT PROPERTY

FRAUDULENT TRANSFER

CREDIT FILE

NONDISCHARGEABLE DEBTS

PREFERENCE

PRESUMED ABUSE

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