Loretto Workout Lawyer, Tennessee

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Bryan C. Penland

Bankruptcy, Criminal, Personal Injury
Status:  In Good Standing           

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Alan C. Betz

Adoption, Banking & Finance, Bankruptcy, Animal Bite
Status:  In Good Standing           Licensed:  42 Years

Alan Chester Betz

Wills & Probate, Elder Law, Administrative Law, Credit & Debt
Status:  In Good Standing           Licensed:  42 Years

Walter Charles Doerflinger

Family Law, Elder Law, Corporate, Credit & Debt
Status:  In Good Standing           

Stacie Odeneal

Administrative Law, Bankruptcy, Natural Resources, Products Liability
Status:  In Good Standing           Licensed:  18 Years

Randy Hillhouse

Litigation, Trusts, Family Law, Reorganization
Status:  In Good Standing           Licensed:  46 Years

Randy Hillhouse

Litigation, Trusts, Family Law, Reorganization
Status:  In Good Standing           Licensed:  46 Years

Stacie Leigh Odeneal

Administrative Law, Bankruptcy, Natural Resources, Products Liability
Status:  In Good Standing           Licensed:  18 Years

Ronald G. Freemon

Litigation, Family Law, Insurance, Credit & Debt
Status:  In Good Standing           Licensed:  19 Years

Robert Clark Henry

Estate Planning, Elder Law, Corporate, Credit & Debt
Status:  In Good Standing           

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

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800-943-8690

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Easily find Loretto Workout Lawyers and Loretto Workout Law Firms. For more attorneys, search all Bankruptcy & Debt areas including Bankruptcy, Collection, Credit & Debt and Reorganization attorneys.

LEGAL TERMS

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.

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.

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.

LIQUIDATING PARTNER

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

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.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)
The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)
These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)
A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.