Philadelphia Credit & Debt Lawyer, Pennsylvania

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Joan C. Rosoff

Foreclosure, Business Organization, Lending, Credit & Debt
Status:  In Good Standing           

Joseph Gibbons

Insurance, Corporate, Credit & Debt, Bankruptcy
Status:  In Good Standing           

Michael S. Schwartz

Bankruptcy, Foreclosure, Credit & Debt, Bankruptcy
Status:  In Good Standing           

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Roger John Traversa

General Practice
Status:  In Good Standing           

Erick B Slootsky

Employee Rights, Civil Rights, Corporate, Credit & Debt
Status:  In Good Standing           Licensed:  17 Years

Wayne M. Thomas

Motor Vehicle, Litigation, Wrongful Termination, Credit & Debt
Status:  In Good Standing           Licensed:  52 Years

Debra Denise Rainey

General Practice
Status:  In Good Standing           Licensed:  21 Years

Michael Anthony Cataldo

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

Allan K. Marshall

Landlord-Tenant, Contract, Credit & Debt, Bankruptcy
Status:  In Good Standing           Licensed:  42 Years

Douglas Lee Dolfman

DUI-DWI, Criminal, Credit & Debt
Status:  In Good Standing           

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LEGAL TERMS

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)
The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)
A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)
A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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 LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)
The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)
The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)
A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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.

SAMPLE LEGAL CASES

Biese v. Biese

... 10 In Issue A(2), Husband asserts that all of the parties' credit card debt should not have been apportioned to him. According to Husband, if the Master's goal was a 50/50 split of the marital estate, he should have assigned half of the $10,584.00 credit card debt to Wife. ...

DEBT SETTLEMENT USA, INC. v. Kaplan

... Act 117 also defines "debt settlement services" as: [a]n action or negotiation made on behalf of a consumer with that consumer's creditors for the purpose of the creditor forgiving part or all of the principal of the debt incurred or credit extended to that consumer. ...

Commonwealth Financial Systems, Inc. v. Smith

... ("CFS") appeals from the judgment entered in favor of Ms. Larry Smith ("Ms. Smith") in this action to collect a credit card debt. [1] We affirm. ... By March 2002, Ms. Smith was approximately $2,000 in debt on her credit card account. CFS buys and collects debts. ...