Bedford Bankruptcy & Debt Lawyer, Ohio

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Kathleen Donnelly
About Us | Contact Us
Law Office of Kathleen Donnelly
526 Superior Ave #1030 Cleveland, OH 44114Â» view map
Chapter 7, Chapter 13, Free Evaluations
Need Debt Relief? Contact Me Today

There is hope for debt relief. At the Cleveland, Ohio, law office of Kathleen Donnelly, we help people like you to escape from under mountains of debt.

800-413-4100
1. Kathleen Donnelly Cleveland, Ohio
  Attorney at Law-OH,1988
  Cleveland State University, J.D. 1988
2. About UsKathleen Donnelly
  Find out what makes us one of the top law firms in the country for bankruptcy.
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Samuel Jay Mamich

Divorce & Family Law, Criminal, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

Bedford, OH 44146

Brian James Melling

Corporate, Bankruptcy, Personal Injury, Workers' Compensation

Status: In Good Standing Licensed: 50 Years

CONTACT

165 Center Rd, Chagrin Falls, OH 44146

Shaun Edward Whitehead

Family Law, Commercial Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 9 Years

CONTACT

675 Northfield Road, Bedford, OH 44146

Michael James Creager

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

365 Broadway Ave., Bedford, OH 44146

Patrick Gene O'Hara

Litigation, Government, Corporate, Collection

Status: In Good Standing Licensed: 15 Years

CONTACT

5500 Warrensville Center Rd, Maple Heights, OH 44137

Randi Lynn Nine

Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

26000 Cannon Rd., Bedford, OH 44146

Jeffrey M. Yelsky

Litigation, Employment, Criminal, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

23103 Miles Road, Cleveland, OH 44128

Daniel Ian Bergrin

Real Estate, International, Estate Planning, Commercial Bankruptcy

Status: In Good Standing Licensed: 11 Years

CONTACT

3333 Richmond Road, Cleveland, OH 44122

Leah M. Caplan

Other, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

28790 Inner Circle Ct., Solon, OH 44139

Robert Anthony Taormina

General Practice

Status: In Good Standing Licensed: 35 Years

CONTACT

30000 Aurora Rd, Solon, OH 44139

800-923-0641

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LEGAL TERMS

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable 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.

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.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

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.

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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Bedford Bankruptcy & Debt Lawyer, Ohio

Sponsored Law Firm

Law Office of Kathleen Donnelly

SPONSORED LAWYERS

Samuel Jay Mamich

Brian James Melling

Shaun Edward Whitehead

Michael James Creager

Patrick Gene O'Hara

Randi Lynn Nine

Jeffrey M. Yelsky

Daniel Ian Bergrin

Leah M. Caplan

Robert Anthony Taormina

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LEGAL TERMS

DISCHARGEABLE DEBTS

PREFERENCE

PRESUMED ABUSE

BULK SALES LAW

SOLE PROPRIETORSHIP

S CORPORATION

PRIORITY DEBT

WORKOUT

WINDING UP

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