Decatur Bankruptcy & Debt Lawyer, Illinois, page 3

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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
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Faiq Mihlar

Real Estate, Litigation, Collection, Bankruptcy

Status: In Good Standing Licensed: 24 Years

CONTACT

601 E William St, Decatur, IL 62525

Gary Franklin Geisler

Mass Torts, Dispute Resolution, Social Security, Civil Rights, Bankruptcy

Status: In Good Standing Licensed: 48 Years

CONTACT

241 S Main St, Decatur, IL 62523

Heather Giannino

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

601 E William St, Decatur, IL 62523

Heather Michelle Giannino

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

601 E William St, Decatur, IL 62523

James Arthur Coale

Government, Transactions, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

111 E Main Street, Decatur, IL 62523

James Coale

Commercial Real Estate, Government, Transactions, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

111 E Main Street, Decatur, IL 62523

James Robert Norris

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1420 Noble Drive, Mt Zion, IL 62549

Janice Driggers

Real Estate, Divorce & Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

111 E. Main Street, Decatur, IL 62523

Janice Driggers

General Practice

Status: In Good Standing Licensed: 14 Years

CONTACT

111 E. Main Street, Decatur, IL 62523

Jay L Barr

Family Law, Divorce, Collection, Bankruptcy

Status: In Good Standing Licensed: 20 Years

CONTACT

1301 E Mound Rd, Decatur, IL 62526

800-923-0641

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LEGAL TERMS

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.

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.

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.

FDCPA

See Fair Debt Collections & Practices Act.

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

LIQUIDATING PARTNER

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

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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Decatur Bankruptcy & Debt Lawyer, Illinois, page 3

Sponsored Law Firm

PMJ PLLC

SPONSORED LAWYERS

Faiq Mihlar

Gary Franklin Geisler

Heather Giannino

Heather Michelle Giannino

James Arthur Coale

James Coale

James Robert Norris

Janice Driggers

Janice Driggers

Jay L Barr

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LEGAL TERMS

S CORPORATION

TOXIC TORT

PRIORITY DEBT

FDCPA

GRACE PERIOD

CHAPTER 7 BANKRUPTCY

DISCHARGE (OF DEBTS)

LIQUIDATING PARTNER

LIMITED PARTNERSHIP

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