Rockland Bankruptcy Lawyer, Michigan

Sponsored Law Firm


Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Karrie Sue Wichtman

Native People, Children's Rights, Business, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  14 Years

Hannah Lorene Goodman

Family Law, Elder Law, Children's Rights, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  13 Years

Kathryn Larlee

Social Security, Employee Rights, Insurance, Collection
Status:  In Good Standing           Licensed:  10 Years

Andrew Charles Seid

General Practice
Status:  In Good Standing           Licensed:  11 Years

Robert Edward Peterson

General Practice
Status:  In Good Standing           Licensed:  41 Years

Robert Eugene Peterson

Other, Discrimination, Trusts, Landlord-Tenant
Status:  Inactive           Licensed:  60 Years

John S. Robinson

General Practice
Status:  Inactive           

Teddy J. Baird

Real Estate, Government, Elder Law, Family Law
Status:  In Good Standing           Licensed:  44 Years

James R. Jessup

General Practice
Status:  Inactive           Licensed:  44 Years

Lois S. Kallunki

General Practice
Status:  Inactive           Licensed:  39 Years

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Free Help: Use This Form or Call 800-943-8690

Member Representative

Call me for fastest results!
800-943-8690

Free Help: Use This Form or Call 800-943-8690

By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Messages from all messaging and voice technologies including Email, Text, Phone, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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LEGAL TERMS

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)
A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)
Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)
The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)
Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

TRADE NAME

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

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.

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.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)
Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

SAMPLE LEGAL CASES

RDM Holdings, Ltd. v. Continental Plastics Co.

... II. REVIEW OF THE CHAPTER 7 BANKRUPTCY PROCEEDINGS. ... 109, 121, 597 NW2d 817 (1999). V. ANALYSIS—RES JUDICATA AND BANKRUPTCY PROCEEDINGS. A. GOVERNING PRINCIPLES. Our starting point is to determine the applicable res judicata test. ...

Gulf Underwriters Ins. Co. v. McCLAIN INDUSTRIES, INC.

... See MCL 500.402b(a); MCL 500.1904. The policy here includes language similar to the required "bankruptcy provision" for contracts controlled by the code. MCL 500.3006. However, Gulf Underwriters has not indicated that ...

MICHIGAN COMMERCE BANK v. PALMS INVESTMENTS, LLC

... Plaintiff first argues that a guarantor's liability is not extinguished when a debt is discharged in bankruptcy. Here, plaintiff's obligor, Palms Investments, LLC, defaulted on its debt to plaintiff and filed a petition for bankruptcy. During ...