Hubbardston Credit & Debt Lawyer, Massachusetts

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John A. Tatoian Lawyer

John A. Tatoian

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Credit & Debt, Collection, Civil & Human Rights, Legal Malpractice, Consumer Protection

The Law Office of John A. Tatoian Esq. is a solo firm defined by the highest of ethical standards and personal attention. John A. Tatoian Esq. concent... (more)

Matthew S. Rousseau

Bankruptcy, Credit & Debt, Estate Planning, Real Estate
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James J Kaeding

Social Security -- Disability, Bankruptcy, Credit & Debt, White Collar Crime
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Anthony Feroci Jr.

Credit & Debt, Elder Law, Real Estate, Family Law
Status:  In Good Standing           

Christopher M. Uhl

Bankruptcy, Credit & Debt
Status:  In Good Standing           Licensed:  30 Years

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LEGAL TERMS

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

FCRA

See Fair Credit Reporting Act.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)
An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)
A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

DISCHARGE (OF DEBTS)

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

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)
An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)
Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

SAMPLE LEGAL CASES

Wells Fargo Business Credit v. ENVIRONAMICS CORPORATION

... guaranties made to WFBC under a credit and security agreement, and as to the guarantors' counterclaims against WFBC. The guarantors' appeal seeks review of (1) their liability, generally, as they claim an oral forbearance agreement precluded collection on this debt until the ...

Don v. Soo Hoo

... Background. In December, 2000, Don, then a self-employed jewelry maker earning about $8,000 annually, retained the law office of Soo Hoo to file a Chapter 7 bankruptcy petition so 81 that she could shed credit card debt then amounting to slightly more than $11,000. ...

Don v. SOO

... We affirm. Background. In December, 2000, Don, then a self-employed jewelry maker earning about $8,000 annually, retained the law office of Soo Hoo to file a Chapter 7 bankruptcy petition so that she could shed credit card debt then amounting to slightly more than $11,000. ...