Fort Madison Credit & Debt Lawyer, Iowa

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Cynthia Floss Sharpe

Collection, Elder Law, Family Law, Estate Planning, Corporate
Status:  In Good Standing           Licensed:  16 Years

Ryan David Gerling

Contract, Bankruptcy, Car Accident, Constitutional Law, DUI-DWI
Status:  In Good Standing           Licensed:  13 Years

Peter Hansen

Litigation, Criminal, Bankruptcy, Personal Injury, Accident & Injury
Status:  In Good Standing           Licensed:  41 Years

Michael D. Clark

Divorce & Family Law, Criminal, Bankruptcy
Status:  In Good Standing           Licensed:  29 Years

Peter Hansen

Accident & Injury, Bankruptcy, Criminal, Motor Vehicle, Car Accident
Status:  In Good Standing           Licensed:  42 Years

FREE CONSULTATION 

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Mitchell L. Taylor

Accident & Injury, Bankruptcy & Debt, Divorce & Family Law, Criminal, Estate
Status:  In Good Standing           Licensed:  33 Years

FREE CONSULTATION 

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Christy L. Popejoy

Estate, Divorce & Family Law, Bankruptcy & Debt, Medical Malpractice
Status:  In Good Standing           Licensed:  26 Years

Gregory Allan Johnson

Social Security, Workers' Compensation, Contract, Collection, Personal Injury
Status:  In Good Standing           Licensed:  48 Years

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Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

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.

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.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)
Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)
A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

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.

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.

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 REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)
An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)
The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

SAMPLE LEGAL CASES

Anderson v. Nextel Partners, Inc.

... The district court, granted Nextel's motion, holding the agreement signed by Anderson is not subject to the ICCC because it neither resulted in an extension of credit, nor created a debt payable in installments. Anderson has appealed. II. Scope of Review. ...

In re Marriage of Hazen

... The parties had the mortgage on their home, debt on their vehicles, and substantial credit card debt. ... We also modify to require Timothy to be responsible for $8000 of the US Bank credit card debt and Jeanne to be responsible for $1564 of the debt. ...

JOHN DEERE COMMUNITY CREDIT UNION v. Miller

... This case is a garnishment action, in which John Deere Community Credit Union, now known as Veridian Credit Union (Veridian) sought to garnish ... but the proceeds of the sale of a homestead; there is no evidence a homestead descended to Miller; and the debt at issue in the ...