Grifton Credit & Debt Lawyer, North Carolina

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Brian Robert Becker

Litigation, Credit & Debt, Business & Trade, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  32 Years

James Michael Fields

Business, Credit & Debt, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           Licensed:  33 Years

Edwin M. Hardy

Bankruptcy & Debt, Family Law, Criminal, Credit & Debt, Child Custody
Status:  In Good Standing           

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Jonathan Eric Friesen

Agriculture, Credit & Debt, Estate Planning, Business & Trade
Status:  In Good Standing           

Russ Edward Boltz

Elder Law, Corporate, Credit & Debt
Status:  In Good Standing           Licensed:  52 Years

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Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)
A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

LIQUIDATING PARTNER

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

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.

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.

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.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)
Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)
A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)
These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

SAMPLE LEGAL CASES

Stovall v. Stovall

... III. Credit for Debt. ... Both plaintiff and defendant assign error to the trial court's findings and conclusions which gave defendant a "credit" for debt payments of $160,000.00 toward the New Madison debts after the date of separation. ...

Commercial Credit Group, Inc. v. Barber

... Acting on behalf of Creditor, Commercial Credit Group's Senior Vice President, Mr. Mattocks, offered an opening bid of $100,000. ... After the auction, Creditor deducted the $100,000 net sale proceeds from Debtor's outstanding debt and found that Debtor's total outstanding ...

Citibank (South Dakota), NA v. Bowen

... WS Bowen, defendant-appellant, pro se. HUNTER, Judge. Citibank, South Dakota, NA ("plaintiff") filed an action in the District Court of Harnett County on 13 March 2007 to recover an outstanding credit card debt from WS Bowen ("defendant") in the amount of $18,716.17. ...