Lancaster Bankruptcy & Debt Lawyer, California, page 2

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Leon Bayer
About | Practice Areas
Bayer Wishman & Leotta
1055 Wilshire Blvd Suite 1900 Los Angeles, CA 90017» view map
Bankruptcy & Debt
Experience, Affordability, & Expertise

The Los Angeles bankruptcy lawyers of Bayer Wishman & Leotta have successfully represented clients in the Los Angeles area for over 37 years. Bankruptcy is all we handle.

800-942-4591
1. Leon Bayer Los Angeles, CA
  Attorney at Law - CA, 1979
  San Fernando Valley College of Law
2. AboutBayer Wishman & Leotta
  88 Years of Combined Experience
3. Practice AreasExpertise
  Bankruptcy & Debt
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Matthew W. Goldsby

Elder Law, Business Organization, Credit & Debt, Bankruptcy

Status: In Good Standing

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909 East Green Street, Pasadena, CA 91106

Cynthia L. Gibson

Bankruptcy

Status: In Good Standing

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1055 E Colorado Blvd, Pasadena, CA 91106

Thomas R. Mulally

Collection, Credit & Debt, Family Law

Status: In Good Standing

FREE CONSULTATION

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14156 Magnolia Boulevard, Sherman Oaks, CA 91423

Mitchell A. Karasov

Estate Planning, Domestic Violence & Neglect, Elder Law, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

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5352 Laurel Canyon Boulevard, Valley Village, CA 91607

Jonathan Leventhal

Corporate, Collection, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

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21550 Oxnard Street, Woodland Hills, CA 91367

John Balian

Business Organization, Wills & Probate, Estate Planning, Bankruptcy

Status: In Good Standing

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21550 Oxnard Street, Woodland Hills, CA 91367

Douglas D. Kappler

Litigation, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 54 Years

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4029 Acton Ave, Acton, CA 93510

Michael T Chulak

Employee Rights, Corporate, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 27 Years

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30343 Canwood St, Agoura Hills, CA 91301

Brent Michael Finch

Commercial Real Estate, Litigation, Contract, Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

27200 Agoura Rd, Agoura Hills, CA 91301

Kenneth Allan Freedman

Bankruptcy & Debt

Status: In Good Standing Licensed: 50 Years

CONTACT

638 Lindero Canyon Rd, Agoura Hills, CA 91377

800-923-0641

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LEGAL TERMS

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

DISCHARGE (OF DEBTS)

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

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.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.

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Lancaster Bankruptcy & Debt Lawyer, California, page 2

Sponsored Law Firm

Bayer Wishman & Leotta

SPONSORED LAWYERS

Matthew W. Goldsby

Cynthia L. Gibson

Thomas R. Mulally

Mitchell A. Karasov

Jonathan Leventhal

John Balian

Douglas D. Kappler

Michael T Chulak

Brent Michael Finch

Kenneth Allan Freedman

TIPS

LEGAL TERMS

NONPROFIT CORPORATION

REDEMPTION

FRAUDULENT TRANSFER

DISCHARGE (OF DEBTS)

PREFERENCE

S CORPORATION

GARNISHMENT

ACCORD AND SATISFACTION

NONEXEMPT PROPERTY

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