Laura Bankruptcy Lawyer, Illinois, page 3

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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Dick Bennett Williams

Wills, Employment, Criminal, Bankruptcy
Status:  In Good Standing           

Dick B. Williams

Wills, Criminal, Banking & Finance, Bankruptcy, Estate
Status:  In Good Standing           

Andrew Eric Williams

Real Estate, Divorce & Family Law, Criminal, Bankruptcy
Status:  In Good Standing           Licensed:  12 Years

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

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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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)
A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

LIQUIDATING PARTNER

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

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)
A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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.

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.

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.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)
Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)
The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

SAMPLE LEGAL CASES

Economy Fire & Cas. Co. v. Brumfield

... Appellees and Cross-Appellants, v. Hollis L. BRUMFIELD, Defendant and Counterplaintiff- Appellant and Cross-Appellee, and Michael J. Drewes; Constance Drewes; Beau Drewes; Zachary Fitzpatrick; Dan Fitzpatrick; Cindy Fitzpatrick; Steve Miller, Trustee in Bankruptcy for the ...

Seip v. Rogers Raw Materials Fund, LP

... Upon learning this, Beeland immediately sought to have the assets transferred either to Refco, LLC, or back to the original brokerage accounts. D. Refco Bankruptcy and the Special Redemption Letter. ... (2006)). Refco, LLC, filed for bankruptcy as well in November 2005. ...

Giannini v. Kumho Tire USA, Inc.

... While there are no Illinois cases addressing the stay granted in Rule 306, Garbe Iron Works held that the two-year statute of limitations for filing a mechanics' lien foreclosure was tolled by the automatic stay provision contained in the Federal Bankruptcy Act (11 USC § 362(a)(1 ...