Laurel Credit & Debt Lawyer, Maryland


Craig M. Palik

Contract, Credit & Debt, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           

James M. Greenan

Business, Reorganization, Credit & Debt, Bankruptcy & Debt
Status:  In Good Standing           

Christopher L. Hamlin

Litigation, Criminal, Credit & Debt, Bankruptcy & Debt
Status:  In Good Standing           

Afua Quaye Ofosu

Credit & Debt, Wrongful Death, Sexual Harassment, Family Law
Status:  In Good Standing           

Michelle Ericka Stawinski

Real Estate, Lawsuit & Dispute, Credit & Debt, Bankruptcy & Debt
Status:  In Good Standing           

Shakisha Ayana O'Connor

Credit & Debt, Litigation, Civil Rights, Federal Trial Practice
Status:  In Good Standing           

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

Member Representative

Call me for fastest results!
800-943-8690

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

By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Messages from all messaging and voice technologies including Email, Text, Phone, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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LEGAL TERMS

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.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)
A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)
A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)
A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)
A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)
Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)
A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

SAMPLE LEGAL CASES

APPLICATION OF STERN

... Instead, he continued to increase his debt until no one would extend 1251 him further credit. ... In 2002, the applicant entered law school, where he accumulated $58,000 in student loan debt and continued to make no effort to pay the delinquent retail credit debt. ...

FORD MOTOR CREDIT COMPANY, LLC v. Roberson

... During the proceedings, Ford Motor Credit filed a motion for summary judgment, asserting that it did not violate the discharge injunction as a matter of fact or law, was not a "debt collector" as that term is used in the Fair Debt Collection Practices Act, 15 USC § 1692 et seq. ...

IN THE MATTER OF APPLICATION OF STERN

... Instead, he continued to increase his debt until no one would extend him further credit. ... In 2002, the applicant entered law school, where he accumulated $58,000 in student loan debt and continued to make no effort to pay the delinquent retail credit debt. ...