New London Credit & Debt Lawyer, Minnesota

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Thomas A Jones

Divorce & Family Law, Bankruptcy, Divorce
Status:  In Good Standing           Licensed:  35 Years

William L Spooner

Government, Child Custody, Divorce & Family Law, Bankruptcy & Debt, Medical Malpractice
Status:  In Good Standing           Licensed:  43 Years

Dennis Neeser

Real Estate, Banking & Finance, Business, Workout
Status:  In Good Standing           

Griffin Russell Leitch

Divorce & Family Law, Criminal, Bankruptcy & Debt, Accident & Injury
Status:  In Good Standing           Licensed:  10 Years

Luke Schendel Rose

Criminal, Personal Injury, Bankruptcy, Family Law
Status:  In Good Standing           Licensed:  20 Years

Casey Jon Swansson

Divorce & Family Law, Business, Bankruptcy & Debt, Accident & Injury
Status:  In Good Standing           Licensed:  11 Years

Christopher James Frank

Wills & Probate, Juvenile Law, Criminal, Bankruptcy
Status:  In Good Standing           Licensed:  9 Years

Mark Guy Wermerskirchen

Veterans' Affairs, Real Estate, Estate, Elder Law, Bankruptcy
Status:  In Good Standing           Licensed:  36 Years

James Anderson

Business Organization, Bankruptcy, Estate Planning, Municipal
Status:  In Good Standing           

Ramona Carol Lackore

Divorce & Family Law, Criminal, Bankruptcy & Debt
Status:  In Good Standing           Licensed:  38 Years

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LEGAL TERMS

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)
An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)
Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)
Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)
A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

SAMPLE LEGAL CASES

Baker v. Baker

... Id. Attorney Fees. In late 2003, the parties agreed that Dr. Baker would pay off approximately $43,500 of Ms. Baker's credit card debt. The debt included expenditures for the couple's home, groceries, and gifts for their children and grandchildren. ...

US FEDERAL CREDIT UNION v. STARS & STRIKES, LLC

... In 2005 and 2006, Stars & Strikes borrowed $8 million from US Federal Credit Union (USFCU). ... when USFCU foreclosed on its mortgages and bought all of the mortgaged property at a sheriff's foreclosure sale for $8,612,141.02, the amount of the business's outstanding debt. ...

ATLANTIC CREDIT & FINANCE v. DUSTRUDE

... On appeal, appellant contends that he is not required to pay the credit card debt because respondent violated the Truth In Lending Act (TILA), 15 USC §§ 1601-1667f (2000), by failing to follow a prescribed dispute-resolution procedure. ...