Preston Bankruptcy & Debt Lawyer, Minnesota

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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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Bruce A. Nelson

Criminal, Banking & Finance, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

177 Main Street, Winona, MN 55987

Richard F. Blahnik

Estate Planning, Banking & Finance, Credit & Debt, Bankruptcy

Status: In Good Standing

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177 Main Street, Winona, MN 55987

Anthony John Moosbrugger

Trusts, Adoption, Corporate, Collection, Bankruptcy

Status: In Good Standing

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208 Main Street W., Kasson, MN 55944

Anthony John Moosbrugger

Civil Rights, Corporate, Bankruptcy, Medical Malpractice

Status: In Good Standing Licensed: 22 Years

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208 Main Street W., Kasson, MN 55944

Brian James Ellsworth

Litigation, Consumer Bankruptcy, Bankruptcy, Products Liability

Status: In Good Standing

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302 Elton Hills Drive, Rochester, MN 55902

Christopher David Nelson

Bankruptcy & Debt, Business & Trade, Litigation

Status: In Good Standing Licensed: 17 Years

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30 3rd Street Se, Rochester, MN 55904

Dennis Rutgers

Foreclosure, Bankruptcy, DUI-DWI, Divorce

Status: In Good Standing

CONTACT

313 S Elm St, Rushford, MN 55971

Duane A Kennedy

Estate Planning, Criminal, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 48 Years

CONTACT

751 31St Street N.E., Rochester, MN 55906

Edward Littlejohn

International, Bankruptcy & Debt, Accident & Injury, Corporate

Status: In Good Standing Licensed: 23 Years

CONTACT

1368 Crestview Drive, Winona, MN 55987

Gregory B Schultz

Estate Planning, Family Law, Criminal, Consumer Bankruptcy, Business

Status: In Good Standing Licensed: 44 Years

CONTACT

214 East Main Street, Caledonia, MN 55921

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LEGAL TERMS

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.

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.

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.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

FCRA

See Fair Credit Reporting Act.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

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Preston Bankruptcy & Debt Lawyer, Minnesota

Sponsored Law Firm

Morris Law Group PA

SPONSORED LAWYERS

Bruce A. Nelson

Richard F. Blahnik

Anthony John Moosbrugger

Anthony John Moosbrugger

Brian James Ellsworth

Christopher David Nelson

Dennis Rutgers

Duane A Kennedy

Edward Littlejohn

Gregory B Schultz

TIPS

LEGAL TERMS

CURRENT MONTHLY INCOME

LIMITED PARTNERSHIP

SUBROGATION

COLLECTION AGENCY

FCRA

GRACE PERIOD

LIMITED LIABILITY

C CORPORATION

BULK SALES LAW

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