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Port Huron Bankruptcy Lawyer, Michigan
Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution


Thomas J. Tomko Lawyer

Thomas J. Tomko

VERIFIED
Felony, Misdemeanor, DUI-DWI, Bankruptcy, Wills & Probate
(586) 795-8822 Criminal Defense - Macomb - DUI DWI - Drunk Driving - Misdemeanor/Felony - Bankruptcy

When its YOUR legal matter, its important, and EXPERIENCE COUNTS. Get your BEST DEFENSE by calling the Law Office of Thomas J. Tomko. Our Attorneys... (more)

FREE CONSULTATION 

CONTACT

800-850-1171

Edward J. Gudeman Lawyer

Edward J. Gudeman

VERIFIED
Bankruptcy & Debt, Business & Trade, Reorganization, Credit & Debt, Consumer Bankruptcy

Lawyer.com Member Questionnaire

Please describe a case(s) in the last year or two where you made a big difference.
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Daniel  Romano Lawyer

Daniel Romano

VERIFIED
Accident & Injury, Civil & Human Rights, Bankruptcy & Debt, Social Security, Bankruptcy

When Dan Romano was growing up, it was not his ambition and dream to go to law school and open his own firm. He did not follow a straight path. And he... (more)

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CONTACT

800-972-2640

Lionel E. Bashore

Alimony & Spousal Support, Dispute Resolution, Bankruptcy Litigation, Corporate, Business Organization
Status:  In Good Standing           

G. Timothy Moore

Banking & Finance, Corporate, Real Estate, Bankruptcy
Status:  In Good Standing           

Cheryl D. Cook

Banking & Finance, Corporate, Estate Planning, Real Estate, Bankruptcy
Status:  In Good Standing           

Michelle M. Lundquist

Bankruptcy, Litigation, State and Local, Education
Status:  In Good Standing           

Ralph Colasuonno

Banking & Finance, Bankruptcy, Litigation, State and Local
Status:  In Good Standing           

Martin P. Krall

Banking & Finance, Government Agencies, Bankruptcy, Dispute Resolution, Real Estate
Status:  In Good Standing           

Daniel S. Gerow

Bankruptcy, Consumer Bankruptcy, Farms, DUI-DWI, Divorce
Status:  In Good Standing           

800-923-0641

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LEGAL TERMS

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)
In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)
A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)
As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)
A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

SAMPLE LEGAL CASES

RDM Holdings, Ltd. v. Continental Plastics Co.

... II. REVIEW OF THE CHAPTER 7 BANKRUPTCY PROCEEDINGS. ... 109, 121, 597 NW2d 817 (1999). V. ANALYSIS—RES JUDICATA AND BANKRUPTCY PROCEEDINGS. A. GOVERNING PRINCIPLES. Our starting point is to determine the applicable res judicata test. ...

Gulf Underwriters Ins. Co. v. McCLAIN INDUSTRIES, INC.

... See MCL 500.402b(a); MCL 500.1904. The policy here includes language similar to the required "bankruptcy provision" for contracts controlled by the code. MCL 500.3006. However, Gulf Underwriters has not indicated that ...

MICHIGAN COMMERCE BANK v. PALMS INVESTMENTS, LLC

... Plaintiff first argues that a guarantor's liability is not extinguished when a debt is discharged in bankruptcy. Here, plaintiff's obligor, Palms Investments, LLC, defaulted on its debt to plaintiff and filed a petition for bankruptcy. During ...