Carman Bankruptcy & Debt Lawyer, Illinois, page 2

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Patrick Jones
About | Practice Areas
PMJ PLLC
100 S State St Chicago, IL 60603» view map
Bankruptcy & Debt
Working Relentlessly For You

Patrick is the Founder of PMJ PLLC and has more than 20 years of experience.

800-901-4721
1. Patrick Jones Chicago, IL
  Attorney at Law- IL
  DePaul University College of Law, J.D. 1999
2. AboutPMJ PLLC
  Working Relentlessly For You
3. Practice AreasExpertise
  Bankruptcy & Debt
1. Contact
2. Email
3. Refer
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Pamela S. Wilcox

Consumer Bankruptcy, Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

117 E Main St, Galesburg, IL 61401

Chad Mathew Long

Litigation, Trusts, Estate Planning, Collection

Status: In Good Standing

CONTACT

117 E Main St, Galesburg, IL 61401

Trisha Lynne Blake-Millar

Real Estate, Divorce & Family Law, Felony, Collection, Contract

Status: In Good Standing Licensed: 11 Years

CONTACT

56 N Prairie St, Galesburg, IL 61401

Jack Phillip Ball

Federal Appellate Practice, Family Law, Civil Rights, Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

190 S Kellogg St, Galesburg, IL 61402

Jack Ball

Federal Appellate Practice, Family Law, Civil Rights, Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

190 S Kellogg St, Galesburg, IL 61402

Trisha Lynne Blake

Litigation, Family Law, Business & Trade, Collection

Status: In Good Standing Licensed: 11 Years

CONTACT

250 E. Main Street, Galesburg, IL 61401

Trisha Blake

Litigation, Family Law, Business & Trade, Collection

Status: In Good Standing Licensed: 11 Years

CONTACT

250 E. Main Street, Galesburg, IL 61401

D.Robert Lindstrom

Banking & Finance, Litigation, Bankruptcy, Transactions

Status: In Good Standing Licensed: 50 Years

CONTACT

311 East Main Street, Galesburg, IL 61401

D. Robert. Lindstrom

Banking & Finance, Bankruptcy, Business & Trade, Litigation

Status: In Good Standing Licensed: 50 Years

CONTACT

311 East Main Street, Galesburg, IL 61401

Daniel Sterling Alcorn

Employee Rights, Contract, Reorganization, Sexual Harassment

Status: In Good Standing

CONTACT

313 E. Main Street, Galesburg, IL 61401

800-923-0641

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LEGAL TERMS

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

FCBA

See Fair Credit Billing Act.

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.

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.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

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.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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Carman Bankruptcy & Debt Lawyer, Illinois, page 2

Sponsored Law Firm

PMJ PLLC

SPONSORED LAWYERS

Pamela S. Wilcox

Chad Mathew Long

Trisha Lynne Blake-Millar

Jack Phillip Ball

Jack Ball

Trisha Lynne Blake

Trisha Blake

D.Robert Lindstrom

D. Robert. Lindstrom

Daniel Sterling Alcorn

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LEGAL TERMS

SOLE PROPRIETORSHIP

FORBEARANCE

PREFERENCE

FCBA

LIABILITY

BULK SALES LAW

MEETING OF CREDITORS

IRS EXPENSES

GUARANTEED RESERVATION

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