Jarales Credit & Debt Lawyer, New Mexico

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Jon Litty
About | Practice Areas
Litty Law Group, P.C.
500 Marquette Ave NW Suite 1200 Albuquerque, NM 87102» view map
Bankruptcy & Debt and Immigration Law
Albuquerque’s Attorney

I’m Jon Litty and I’m here to serve you, Albuquerque! I will fight to get you what you rightfully deserve.

505-862-5061
1. Jon Litty Albuquerque, NM
  Attorney at Law- NM
  Thomas Jefferson School of Law, J.D. 2015
2. AboutLitty Law Group, P.C.
  Albuquerque’s Attorney
3. Practice AreasExpertise
  Bankruptcy & Debt
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Joel Cruz-Esparza

Credit & Debt, Bankruptcy, Consumer Bankruptcy, Mediation

Status: In Good Standing

CONTACT

Laguna, NM 87026

Charles S. Parnall

Credit & Debt, Consumer Bankruptcy, Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

2116 Vista Oeste St Nw, Albuquerque, NM 87120

George M. Moore

Credit & Debt, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1122 Central Ave Sw, Albuquerque, NM 87102

Daniel J Behles

Litigation, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1122 Central Ave Sw, Albuquerque, NM 87102

Bonnie Pandora Bassan

Estate, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1122 Central Ave SW, Albuquerque, NM 87102

Daniel J. Behles

Litigation, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1122 Central Ave Sw, Albuquerque, NM 87102

Samuel I. Roybal

Credit & Debt, Bankruptcy, Consumer Bankruptcy, Corporate

Status: In Good Standing

CONTACT

500 Marquette Ave Nw, Albuquerque, NM 87102

Penelope Quintero

Credit & Debt, Bankruptcy, Consumer Bankruptcy, Corporate

Status: In Good Standing

CONTACT

320 Gold Ave Sw, Albuquerque, NM 87102

Thomas D. Walker

Landlord-Tenant, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

500 Marquette Ave Nw, Albuquerque, NM 87102

Rob Treinen

Civil Rights, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

500 Tijeras Ave Nw, Albuquerque, NM 87102

800-923-0641

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LEGAL TERMS

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.

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.

LIQUIDATING PARTNER

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

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

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.

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.

SAMPLE LEGAL CASES

Beams v. Rhine

... He alleges that Rhine used the money obtained from the line of credit to pay off premarital credit card debt and to make mortgage payments on another home in Arizona that Rhine purchased before the marriage and was her separate property. ...

Karpien v. Karpien

... That community debt included the balance owed on two mortgages on the home, credit card debt, certain medical bills, and repatriation and funeral expenses that were incurred after Wife's death and paid by Parents. Husband appeals the order of the district court. II. ...

Bank of New York v. Romero

... In early 2006, the Romeros were behind on the New Century loan, which had an estimated payoff of $176,450.08, and were in debt on credit card and other loan obligations. ... (Equity One) for $227,240 that repaid their existing home loan, credit card debt, and other obligations. ...

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Jarales Credit & Debt Lawyer, New Mexico

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Joel Cruz-Esparza

Charles S. Parnall

George M. Moore

Daniel J Behles

Bonnie Pandora Bassan

Daniel J. Behles

Samuel I. Roybal

Penelope Quintero

Thomas D. Walker

Rob Treinen

TIPS

LEGAL TERMS

PREFERENCE

WINDING UP

LIQUIDATING PARTNER

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

S CORPORATION

C CORPORATION

FAIR CREDIT BILLING ACT (FCBA)

LIMITED PARTNERSHIP

HOUSEHOLDER

SAMPLE LEGAL CASES

Beams v. Rhine

Karpien v. Karpien

Bank of New York v. Romero

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