Saratoga Springs Bankruptcy Lawyer, Utah, page 2

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

Douglas L Barrett

Litigation, Elder Law, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           

Courtney C Koehler

Traffic, International Other, Divorce, Bankruptcy
Status:  In Good Standing           

Mary K. Mark-Karnik

Bankruptcy
Status:  In Good Standing           Licensed:  31 Years

Nelson T Abbott

Accident & Injury, Non-profit, Bankruptcy, Personal Injury
Status:  In Good Standing           

Scott D. Preston

Trademark, Wills & Probate, Civil Rights, Bankruptcy
Status:  In Good Standing           

Mark F Robinson

Education, Trusts, Business Organization, Bankruptcy, Divorce
Status:  In Good Standing           Licensed:  47 Years

Jacob R Powell

Litigation, Family Law, Contract, Bankruptcy
Status:  In Good Standing           Licensed:  19 Years

Jeffrey Reid Butler

Environmental Law Other, Contract, Bankruptcy, Slip & Fall Accident
Status:  In Good Standing           

W Sean Mawhinney

Power of Attorney, Wills & Probate, Business, Bankruptcy
Status:  In Good Standing           

Aaron K Johnstun

Securities Fraud , Business & Trade, Bankruptcy Litigation, Bankruptcy
Status:  In Good Standing           Licensed:  17 Years

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LEGAL TERMS

FDCPA

See Fair Debt Collections & Practices Act.

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)
A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)
In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

FCRA

See Fair Credit Reporting Act.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

SAMPLE LEGAL CASES

In re Smith

... 1002 NEHRING, Justice: INTRODUCTION. ¶ 1 We consented to answer the following question certified to us by the United States Bankruptcy Appellate Panel of the Tenth Circuit: ... On December 22, 2006, Ms. Smith filed for bankruptcy under Chapter 7 of the Bankruptcy Code. ...

Maero v. Bunker

... 1 Defendants Merrill K. Bunker; Topaz Enterprises, Inc.; and Westland II Investments (collectively, Bunker) challenge the trial court's ruling that plaintiff Steven D. Maero was entitled to the proceeds from the partnership interest he purchased at a bankruptcy auction. ...

Bangerter v. Petty

... On March 10, 1998, Bangerter filed a Chapter 13 bankruptcy petition. On May 14, 1998, Jarmaccc served Bangerter with a notice to quit, instructing her to vacate the Property, but this could not be pursued because of her pending bankruptcy action. ...