Ormsby Bankruptcy & Debt Lawyer, Minnesota

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Bethany Danner
About | Practice Areas
Morris Law Group PA
7380 France Ave S. Suite 250 Edina, MN 55435» view map
Bankruptcy & Debt
We Are Experts In What We Do

Whether it’s your home or business, you are important to us. Reach out today to set up a meeting with one of our experienced Edina lawyers.

952-832-2000
1. Bethany Danner Edina, MN
  Attorney at Law- MN, 2015
2. AboutMorris Law Group PA
  We Are Experts In What We Do
3. Practice AreasExpertise
  Bankruptcy & Debt
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Herbert C Kroon

Mediation, Divorce, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

503 Cornelia St, Mankato, MN 56003

Herbert Kroon

Mediation, Family Law, Juvenile Law, Criminal, Bankruptcy

Status: In Good Standing

CONTACT

503 Cornelia St, Mankato, MN 56003

Halverson Law Office

Bankruptcy, Real Estate

Status: In Good Standing

CONTACT

600 S 2Nd St, Mankato, MN 56001

Andrea Lieser

Collection, Personal Injury, Estate Planning, Dispute Resolution

Status: In Good Standing

CONTACT

201 North Broad Street, Mankato, MN 56002

Jorun Groe Meierding

Real Estate, Federal Appellate Practice, Estate Planning, Bankruptcy

Status: In Good Standing

CONTACT

201 North Broad Street, Mankato, MN 56002

Robert J Winzenburg

Real Estate, Bankruptcy, Trusts, Traffic

Status: In Good Standing Licensed: 45 Years

CONTACT

733 Range Street, Mankato, MN 56002

Christopher M. Kennedy

Alimony & Spousal Support, Criminal, Bankruptcy, Animal Bite, Family Law

Status: In Good Standing Licensed: 29 Years

CONTACT

99 Navaho Avenue, Mankato, MN 56001

Christopher Michael Kennedy

Family Law, Criminal, Bankruptcy & Debt, Animal Bite, DUI-DWI

Status: In Good Standing

CONTACT

99 Navaho Avenue, Mankato, MN 56001

800-923-0641

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LEGAL TERMS

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.

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.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

FDCPA

See Fair Debt Collections & Practices Act.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

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Ormsby Bankruptcy & Debt Lawyer, Minnesota

Sponsored Law Firm

Morris Law Group PA

SPONSORED LAWYERS

Herbert C Kroon

Herbert Kroon

Halverson Law Office

Andrea Lieser

Jorun Groe Meierding

Robert J Winzenburg

Christopher M. Kennedy

Christopher Michael Kennedy

TIPS

LEGAL TERMS

REDEMPTION

GUARANTOR

IRS EXPENSES

CREDIT COUNSELING

LIMITED PARTNERSHIP

FDCPA

BULK SALES LAW

DEFINED CONTRIBUTION PLAN

SETOFF

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