Forest Lake Bankruptcy Lawyer, Minnesota, page 2

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Bethany Danner
About | Practice Areas
Morris Law Group PA
7380 France Ave S. Suite 250 Edina, MN 55435» view map
Bankruptcy & Debt
We Are Experts In What We Do

Whether it’s your home or business, you are important to us. Reach out today to set up a meeting with one of our experienced Edina lawyers.

952-832-2000
1. Bethany Danner Edina, MN
  Attorney at Law- MN, 2015
2. AboutMorris Law Group PA
  We Are Experts In What We Do
3. Practice AreasExpertise
  Bankruptcy & Debt
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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Stacia Walling Driver

Farms, Family Law, Adoption, Dissolution

Status: In Good Standing

CONTACT

121 South 8th Street, Minneapolis, MN 55402

Earl H. Cohen

Commercial Real Estate, International Tax, Estate Planning, Criminal, Bankruptcy

Status: In Good Standing

CONTACT

1700 U.S. Bank Plaza South, 220 South Sixth Street, Minneapolis, MN 55402

T. Jay Salmen

Bankruptcy, Corporate, Business Organization

Status: In Good Standing

CONTACT

470 U.S. Bank Plaza, 200 South 6th Street, Minneapolis, MN 55402

John (Jack) DeWalt

Adoption, Farms, Dissolution, Estate Planning

Status: In Good Standing

CONTACT

121 South 8th Street, Minneapolis, MN 55402

Richard J. Fuller

Banking & Finance, Bankruptcy, Consumer Protection, Credit & Debt

Status: In Good Standing

CONTACT

1700 U.S. Bank Plaza South, 220 South Sixth Street, Minneapolis, MN 55402

Richard J. Fuller

Corporate, Consumer Bankruptcy, Bankruptcy Litigation, Bankruptcy

Status: In Good Standing

CONTACT

1700 U.S. Bank Plaza South, 220 South Sixth Street, Minneapolis, MN 55402

Nicole Anderson

Adoption, Bankruptcy, Child Support, Farms

Status: In Good Standing Licensed: 20 Years

CONTACT

1650 11Th Ave Sw, Forest Lake, MN 55025

Adam W. Heaton

Commercial Real Estate, Business & Trade, Banking & Finance, Bankruptcy

Status: In Good Standing

CONTACT

5130 158Th St N, Hugo, MN 55038

Jack L Prescott

Bankruptcy

Status: Inactive Licensed: 73 Years

CONTACT

443 Old Hwy 8 Nw, Saint Paul, MN 55112

Nathan Myrum Hansen

Litigation, Criminal, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

2440 N Charles Street, Saint Paul, MN 55109

800-923-0641

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LEGAL TERMS

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

SAMPLE LEGAL CASES

Sitek v. Striker

... Approximately one month later, Striker filed for Chapter 7 bankruptcy. Sitek argues that the bankruptcy proceedings voided the notice of cancellation and prejudiced her ability to exercise her statutory rights to cure the default or enjoin cancellation. ...

Fast v. Fast

... debt. Following the marriage dissolution, respondent filed for chapter 7 bankruptcy. 11 USC ch. 7 (2006). Appellant was listed as a creditor in the bankruptcy proceedings along with the debt owed to Wells Fargo. Although ...

McIntosh Cty. Bank v. Dorsey & Whitney

... M & S filed for Chapter 7 bankruptcy relief in January 2002. ... The bankruptcy court dismissed 28 banks' claims for lack of subject matter jurisdiction, abstained from hearing the remaining participants' claims, and denied Dorsey's motion for summary judgment. ...

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Forest Lake Bankruptcy Lawyer, Minnesota, page 2

Sponsored Law Firm

Morris Law Group PA

SPONSORED LAWYERS

Stacia Walling Driver

Earl H. Cohen

T. Jay Salmen

John (Jack) DeWalt

Richard J. Fuller

Richard J. Fuller

Nicole Anderson

Adam W. Heaton

Jack L Prescott

Nathan Myrum Hansen

TIPS

LEGAL TERMS

FAIR CREDIT BILLING ACT (FCBA)

REDEMPTION

COLLATERAL

SOLE PROPRIETORSHIP

UNSECURED DEBT

UNDUE HARDSHIP

WINDING UP

DISCHARGEABLE DEBTS

DEFINED CONTRIBUTION PLAN

SAMPLE LEGAL CASES

Sitek v. Striker

Fast v. Fast

McIntosh Cty. Bank v. Dorsey & Whitney

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