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Prince Frederick Bankruptcy & Debt Lawyer, Maryland


James Daryl Ealley Lawyer

James Daryl Ealley

VERIFIED
Bankruptcy & Debt, Estate Planning, Estate Administration, Trusts, Wills & Probate

Mr. Ealley's practice focuses primarily on Chapter 7 and Chapter 13 Bankruptcy, Foreclosure Defense, Mortgage Modification, Estate Planning and Estat... (more)

FREE CONSULTATION 

CONTACT

800-723-7861

Martin J. Carroll, III Lawyer

Martin J. Carroll, III

VERIFIED
Car Accident, Bankruptcy, Criminal, Workers' Compensation, Personal Injury
Law Office of Martin Carroll has provided legal representation to southern md since 1989

Martin Carroll is a practicing lawyer in the state of Maryland. He recieved his J.D. from the University of Maryland. He currently works at the The La... (more)

FREE CONSULTATION 

CONTACT

800-734-6871

Harold L. Boyd

Adoption, Alimony & Spousal Support, Bankruptcy, Child Support, Children's Rights
Status:  In Good Standing           

Marla L. Howell

Bankruptcy, Corporate, Business Organization, Contract, Credit & Debt
Status:  In Good Standing           

FREE CONSULTATION 

CONTACT
Speak with Lawyer.com

Thomas F. DeCaro

Bankruptcy, Corporate, Business Organization, Contract, Credit & Debt
Status:  In Good Standing           

FREE CONSULTATION 

CONTACT

Joshua Aaron Welborn

Divorce & Family Law, Bankruptcy & Debt, Real Estate
Status:  In Good Standing           

Liza Sue Castles

Litigation, Collection, Federal Appellate Practice
Status:  In Good Standing           Licensed:  26 Years

Robert Lawrence Sullivan

Antitrust, Construction, Environmental Law Other, Commercial Bankruptcy
Status:  In Good Standing           Licensed:  31 Years

Timothy Thomas Lawry

Commercial Bankruptcy
Status:  In Good Standing           

David Joseph Hebb

Commercial Bankruptcy
Status:  In Good Standing           Licensed:  11 Years

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

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

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LEGAL TERMS

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)
A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)
A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)
A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)
The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)
A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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.