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John Lynch
About | Practice Areas
Lynch Law, LLC
300 E 5th Ave Suite 360 Naperville, IL 60563» view map
Bankruptcy & Debt Law
A Family Approach To Law

Legal matters should only be dealt with by people you trust. Who can you rely on more than people who treat you like family? Trust us to help you today.

800-952-9511
1. John Lynch Naperville, IL
  Attorney at Law- IL, 1998
  Shepard Broad Law Center, J.D. 1998
2. AboutLynch Law, LLC
  A Family Approach To Law
3. Practice AreasExpertise
  Bankruptcy & Debt Law
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Kimberly A. Davis

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Construction, Car Accident, Divorce, Contract, Collection

Kimberly A. Davis, A.A. 1985 Morton College, B.S. 1987 Southern Illinois University at Carbondale, J.D. with honors 1997 IIT-Chicago-Kent College of L... (more)

CONTACT

630-434-0400

1001 Warrenville Rd, Lisle, IL 60532

Chad W. Riley

Corporate, Business Organization, Business Successions, Collection

Status: In Good Standing

CONTACT

55 W. Wacker Drive, Chicago, IL 60601

Christopher B. Morozin

Bankruptcy, Collection, Contract, Criminal

Status: In Good Standing

FREE CONSULTATION

CONTACT

74 East Grand Avenue, Fox Lake, IL 60020

Elisabeth A. Sustman

Administrative Law, Bankruptcy Litigation, Class Action, Collection

Status: In Good Standing

CONTACT

55 W. Wacker Drive, Chicago, IL 60601

Ethan L. Crooks

Corporate, Business Organization, Business Successions, Collection

Status: In Good Standing

CONTACT

55 W. Wacker Drive, Chicago, IL 60601

Michael J. Dudek

Bankruptcy, Corporate, Collection, Commercial Bankruptcy

Status: In Good Standing

CONTACT

One N. LaSalle Street, Chicago, IL 60602

Raya D. Bogard

Corporate, Business Successions, Business Organization, Collection

Status: In Good Standing

CONTACT

1001 Warrenville Road, Lisle, IL 60532

Scott Janko

Corporate, Collection, Commercial Leasing, Consumer Protection

Status: In Good Standing

FREE CONSULTATION

CONTACT

218 N. Jefferson Street, Chicago, IL 60661

Sharon Shapiro

Corporate, Business Organization, Civil Rights, Collection

Status: In Good Standing

CONTACT

100 West Kinzie, Chicago, IL 60610

Thomas Gosselin

Business Organization, Collection, Commercial Real Estate, Defamation & Slander

Status: In Good Standing

CONTACT

2425 Royal Blvd, Elgin, IL 60123

800-923-0641

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LEGAL TERMS

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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.

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Chicago Collection Lawyer, Illinois

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Kimberly A. Davis

Chad W. Riley

Christopher B. Morozin

Elisabeth A. Sustman

Ethan L. Crooks

Michael J. Dudek

Raya D. Bogard

Scott Janko

Sharon Shapiro

Thomas Gosselin

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LEGAL TERMS

REAFFIRMATION

PRIORITY DEBT

DEFINED CONTRIBUTION PLAN

C CORPORATION

FAIR CREDIT REPORTING ACT (FCRA)

COLLATERAL

HOUSEHOLDER

TOXIC TORT

LIABILITY

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