Marquette County, MI Reorganization Lawyers

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Cathy C. Church

Credit & Debt, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           Licensed:  37 Years

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Erica N. Payne Roell

Mediation, Elder Law, Estate Planning, Real Estate
Status:  In Good Standing           Licensed:  13 Years

Theodore Joseph Greeley

Business, Dispute Resolution
Status:  In Good Standing           Licensed:  11 Years

Brandon J. Evans

Commercial Real Estate, Real Estate, Lawsuit & Dispute, Civil Rights
Status:  In Good Standing           Licensed:  18 Years

Daniel David Mead

Adoption, Elder Law, Contract, Bankruptcy
Status:  In Good Standing           Licensed:  19 Years

Stephen R. Serraino

Construction, Workers' Compensation, Insurance, Medical Malpractice
Status:  In Good Standing           Licensed:  43 Years

James B. Steward

Medicare & Medicaid, Estate Planning, Employee Rights, Elder Law
Status:  In Good Standing           Licensed:  51 Years

Raymond J. O'Dea

Landlord-Tenant
Status:  In Good Standing           Licensed:  39 Years

William Thomas Nordeen

General Practice
Status:  In Good Standing           Licensed:  16 Years

Phillip B. Toutant

Multidistrict Litigation, Litigation, Health Care Other, Civil Rights
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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LEGAL TERMS

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)
A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)
A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)
The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)
The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

LIQUIDATING PARTNER

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

COLLATERAL

Property that guarantees payment of a secured debt.

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.