Bernalillo County, NM Credit & Debt Lawyers, page 5

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Jon Litty
About | Practice Areas
Litty Law Group, P.C.
500 Marquette Ave NW Suite 1200 Albuquerque, NM 87102» view map
Bankruptcy & Debt and Immigration Law
Albuquerque’s Attorney

I’m Jon Litty and I’m here to serve you, Albuquerque! I will fight to get you what you rightfully deserve.

505-862-5061
1. Jon Litty Albuquerque, NM
  Attorney at Law- NM
  Thomas Jefferson School of Law, J.D. 2015
2. AboutLitty Law Group, P.C.
  Albuquerque’s Attorney
3. Practice AreasExpertise
  Bankruptcy & Debt
1. Contact
2. Email
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Bonnie Pandora Bassan

Estate, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1122 Central Ave SW, Albuquerque, NM 87102

Katharine C. Downey

Corporate, Labor Law, Credit & Debt, Employment Discrimination

Status: In Good Standing

CONTACT

1120 2Nd St Nw, Albuquerque, NM 87102

George D. Giddens

Landlord-Tenant, Mediation, Corporate, Credit & Debt

Status: In Good Standing

CONTACT

10400 Academy Rd Ne, Albuquerque, NM 87111

David N. Hernandez

Corporate, Credit & Debt, Commercial Real Estate, Wills

Status: In Good Standing

CONTACT

20 First Plaza Ctr Nw, Albuquerque, NM 87102

Daniel J Behles

Litigation, Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1122 Central Ave Sw, Albuquerque, NM 87102

Gail Gottlieb

Credit & Debt, Sexual Harassment, Discrimination, Foreclosure

Status: In Good Standing

CONTACT

Albuquerque, NM 87103

Donald R. Fenstermacher

Litigation, Credit & Debt, Business & Trade, Bankruptcy

Status: In Good Standing

CONTACT

5913 Cubero Dr Ne, Albuquerque, NM 87109

Charles E. Buckland

Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

P.O. Box 8064, Albuquerque, NM 87198

Linda S. Bloom

Credit & Debt

Status: In Good Standing Licensed: 48 Years

CONTACT

13170 Central Ave Se, Albuquerque, NM 87123

Reginald J. Storment

Corporate, Credit & Debt, Products Liability, Federal

Status: In Good Standing

CONTACT

4209 Montgomery Blvd Ne, Albuquerque, NM 87109

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.

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.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

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.

CCCS

See Consumer Credit Counseling Service.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

SAMPLE LEGAL CASES

Beams v. Rhine

... He alleges that Rhine used the money obtained from the line of credit to pay off premarital credit card debt and to make mortgage payments on another home in Arizona that Rhine purchased before the marriage and was her separate property. ...

Karpien v. Karpien

... That community debt included the balance owed on two mortgages on the home, credit card debt, certain medical bills, and repatriation and funeral expenses that were incurred after Wife's death and paid by Parents. Husband appeals the order of the district court. II. ...

Bank of New York v. Romero

... In early 2006, the Romeros were behind on the New Century loan, which had an estimated payoff of $176,450.08, and were in debt on credit card and other loan obligations. ... (Equity One) for $227,240 that repaid their existing home loan, credit card debt, and other obligations. ...

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Bernalillo County, NM Credit & Debt Lawyers, page 5

Sponsored Law Firm

Litty Law Group, P.C.

SPONSORED LAWYERS

Bonnie Pandora Bassan

Katharine C. Downey

George D. Giddens

David N. Hernandez

Daniel J Behles

Gail Gottlieb

Donald R. Fenstermacher

Charles E. Buckland

Linda S. Bloom

Reginald J. Storment

TIPS

LEGAL TERMS

REDEMPTION

UNDUE HARDSHIP

NO-FAULT INSURANCE

CHAPTER 13 PLAN

FORBEARANCE

GRACE PERIOD

CCCS

SUBROGATION

PRESUMED ABUSE

SAMPLE LEGAL CASES

Beams v. Rhine

Karpien v. Karpien

Bank of New York v. Romero

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