Seattle Bankruptcy & Debt Lawyer, Washington, page 5

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Jason Newcombe
About Us | Services
Washington Law Group, PLLC
10700 Meridian Ave N #108 Seattle, WA 98133Â» view map
Bankruptcy & Debt, Chapter 7, Chapter 13
CONTACT US FOR A CONSULTATION

Bankruptcy is unquestionably one of the most powerful financial tools on the planet. Yet, many people struggle for years before even learning how easy it can be to qualify.

800-699-2370
1. Jason Newcombe Seattle, WA
  Attorney at Law - WA, 1999
  Boston College Law School, J.D. - 1997
2. About UsServing Washington
  Offices in Seattle, Bellevue, Tacoma, Everett, and Olympia
3. ServicesExperienced Attorneys
  We always offer a free initial consultation and case evaluation
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Noah Kendrick Williams

Business, Civil Rights, Business & Trade, Commercial Bankruptcy

Status: In Good Standing

CONTACT

1111 3rd Ave, Seattle, WA 98101

Katriana Louise Samiljan

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

7551 29Th Ave Sw, Seattle, WA 98126

Barbara Louise Bollero

Foreclosure, Civil Rights, Banking & Finance, Collection

Status: In Good Standing Licensed: 43 Years

CONTACT

6312 Atlas Pl Sw, Seattle, WA 98136

Barry Alexander Abbott

Corporate, Banking & Finance, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

177 107Th Ave Ne, Bellevue, WA 98004

Christopher E. Green

Lawsuit & Dispute, Consumer Rights, Collection, Consumer Bankruptcy

Status: In Good Standing

CONTACT

225 106Th Ave Ne, Bellevue, WA 98004

Tammy Shou-Tian Spellacy

Corporate, Contract, Commercial Bankruptcy, Legal Malpractice

Status: In Good Standing Licensed: 16 Years

CONTACT

701 5th Ave., Seattle, WA 98104

William A. Buchanan

Family Law, Bankruptcy, Divorce & Family Law

Status: In Good Standing Licensed: 45 Years

CONTACT

1520 140Th Ave Ne, Bellevue, WA 98005

Patrick Burpee

Construction, Business, Collection, Consumer Bankruptcy

Status: In Good Standing

CONTACT

12214 Second Avenue Nw, Seattle, WA 98177

Scot Duncan Tucker

Electronic Commerce, Business & Trade, Business, Commercial Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

17640 Se 45Th Pl, Bellevue, WA 98006

Michael N Mulvihill

Criminal, Corporate, Bankruptcy, Personal Injury

Status: Inactive Licensed: 48 Years

CONTACT

Lynnwood, WA 98046

800-923-0641

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LEGAL TERMS

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

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.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

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.

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.

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Seattle Bankruptcy & Debt Lawyer, Washington, page 5

Sponsored Law Firm

Washington Law Group, PLLC

SPONSORED LAWYERS

Noah Kendrick Williams

Katriana Louise Samiljan

Barbara Louise Bollero

Barry Alexander Abbott

Christopher E. Green

Tammy Shou-Tian Spellacy

William A. Buchanan

Patrick Burpee

Scot Duncan Tucker

Michael N Mulvihill

TIPS

LEGAL TERMS

UNDUE HARDSHIP

SECURED DEBT

LIABILITY

DEFINED CONTRIBUTION PLAN

PRESUMED ABUSE

WORKOUT

WINDING UP

CREDIT COUNSELING

C CORPORATION

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