Plainfield Bankruptcy & Debt Lawyer, Illinois, page 2

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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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Mark Bernachea

Tax, Employment, Bankruptcy

Status: Licensed: 11 Years

CONTACT

2424 Plainfield Road, Crest Hill, IL 60403

Timothy A. Clark

Litigation, Divorce & Family Law, Civil Rights, Bankruptcy

Status: Licensed: 120 Years

CONTACT

3180 Theodore St, Joliet, IL 60435

Mazyar Hedayat

Litigation, Estate Planning, Family Law, Bankruptcy

Status:

CONTACT

1211 W Lakeview Ct, Romeoville, IL 60446

Ashley Tobie

Commercial Real Estate, Wills, Estate Planning, Bankruptcy

Status: Licensed: 15 Years

CONTACT

3290 Executive Dr, Joliet, IL 60431

Megan Marie Olson

Family Law, Divorce & Family Law, Bankruptcy

Status: Licensed: 12 Years

CONTACT

2801 Black Rd, Crest Hill, IL 60435

George Mccarter Stuhr

Divorce & Family Law, Criminal, Transactions, Bankruptcy

Status: Licensed: 42 Years

CONTACT

708 Haven Ln, Joliet, IL 60435

Adriana Lara

Bankruptcy

Status: Licensed: 18 Years

CONTACT

2310 Birchwood Lane, Joliet, IL 60435

Michelle Mchugh Rowe

Real Estate, Divorce & Family Law, Transactions, Bankruptcy

Status: Licensed: 44 Years

CONTACT

101 Grove St, Shorewood, IL 60404

Sara Joanna Gray

Bankruptcy & Debt, Criminal, Traffic, Bankruptcy, Accident & Injury

Status: Licensed: 25 Years

CONTACT

1429 Plainfield Road, Joliet, IL 60435

Natasha B. Makedonski

Bankruptcy & Debt

Status: Licensed: 28 Years

CONTACT

2799 Spinner Ct, Naperville, IL 60565

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

FCBA

See Fair Credit Billing Act.

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

FDCPA

See Fair Debt Collections & Practices Act.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

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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Plainfield Bankruptcy & Debt Lawyer, Illinois, page 2

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Mark Bernachea

Timothy A. Clark

Mazyar Hedayat

Ashley Tobie

Megan Marie Olson

George Mccarter Stuhr

Adriana Lara

Michelle Mchugh Rowe

Sara Joanna Gray

Natasha B. Makedonski

TIPS

LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

FCBA

UNSECURED DEBT

BULK SALES LAW

DISCHARGE (OF DEBTS)

FDCPA

SETOFF

GRACE PERIOD

PRESUMED ABUSE

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