Orleans County, NY Bankruptcy & Debt Lawyers

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Nathan Daniel Pace

Divorce & Family Law, Criminal, Business, Accident & Injury
Status:  In Good Standing           Licensed:  31 Years

Lance J. Mark

Adoption, Bankruptcy, Accident & Injury
Status:  In Good Standing           Licensed:  50 Years

Thomas Cornelius Mack

Immigration, Contract
Status:  In Good Standing           Licensed:  61 Years

John Charles Gavenda

General Practice
Status:  In Good Standing           Licensed:  42 Years

Edward Joseph Grabowski

General Practice
Status:  In Good Standing           Licensed:  27 Years

Brenda Vaughn Heath

General Practice
Status:  In Good Standing           Licensed:  38 Years

John M. Dailey

Real Estate, Estate, Business
Status:  In Good Standing           Licensed:  70 Years

Kevin Richard Allen

Health Care, Divorce & Family Law
Status:  In Good Standing           Licensed:  13 Years

Andrew William Meier

Estate Planning
Status:  In Good Standing           Licensed:  20 Years

Susan M. Howard

General Practice
Status:  In Good Standing           Licensed:  21 Years

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LEGAL TERMS

FCBA

See Fair Credit Billing Act.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

CREDIT FILE

See credit report.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)
An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)
A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

FCRA

See Fair Credit Reporting Act.

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).

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.

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.