Rock Island Bankruptcy Lawyer, Illinois

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Patrick Jones
About | Practice Areas
PMJ PLLC
100 S State St Chicago, IL 60603» view map
Bankruptcy & Debt
Working Relentlessly For You

Patrick is the Founder of PMJ PLLC and has more than 20 years of experience.

800-901-4721
1. Patrick Jones Chicago, IL
  Attorney at Law- IL
  DePaul University College of Law, J.D. 1999
2. AboutPMJ PLLC
  Working Relentlessly For You
3. Practice AreasExpertise
  Bankruptcy & Debt
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2. Email
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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Lincoln T. Scott

Wills & Probate, Estate Planning, Family Law, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

3610 25Th Street, Moline, IL 61265

John S. Callas

Litigation, Federal Appellate Practice, Divorce & Family Law, Bankruptcy, Construction

Status: In Good Standing

CONTACT

329 18Th St, Rock Island, IL 61201

John M. Vandevelde

Divorce, Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

329 18Th St, Rock Island, IL 61201

Bruce Buckrop

Bankruptcy

Status: In Good Standing Licensed: 48 Years

CONTACT

329 18Th St, Rock Island, IL 61201

Joel Deutsch

Litigation, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

1819 3Rd Ave, Rock Island, IL 61201

Bruce A. Buckrop

Bankruptcy, Bankruptcy & Debt, Federal

Status: In Good Standing Licensed: 48 Years

CONTACT

114 19Th Street, Rock Island, IL 61201

Michael Arthur Williams

International, Bankruptcy, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 53 Years

CONTACT

423 17Th Street, Rock Island, IL 61201

Derek Hancks

Divorce, DUI-DWI, Bankruptcy, Medical Malpractice

Status: In Good Standing Licensed: 35 Years

CONTACT

329 18Th St, Rock Island, IL 61201

Joel Allister Deutsch

Litigation, Bankruptcy

Status: In Good Standing Licensed: 51 Years

CONTACT

1825 3Rd Avenue, Rock Island, IL 61201

Steven L. Nelson

Corporate, Banking & Finance, Administrative Law, Bankruptcy

Status: In Good Standing Licensed: 48 Years

CONTACT

1515 5Th Avenue, Moline, IL 61265

800-923-0641

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LEGAL TERMS

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

COLLATERAL

Property that guarantees payment of a secured debt.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

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.

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 Â§ 362(a)(1 ...

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Rock Island Bankruptcy Lawyer, Illinois

Sponsored Law Firm

PMJ PLLC

SPONSORED LAWYERS

Lincoln T. Scott

John S. Callas

John M. Vandevelde

Bruce Buckrop

Joel Deutsch

Bruce A. Buckrop

Michael Arthur Williams

Derek Hancks

Joel Allister Deutsch

Steven L. Nelson

TIPS

LEGAL TERMS

S CORPORATION

SOLE PROPRIETORSHIP

COLLATERAL

CYBERSQUATTING

UNSECURED DEBT

ADMINISTRATIVE EXPENSES

AUTOMATIC STAY

ACCORD AND SATISFACTION

CURRENT MONTHLY INCOME

SAMPLE LEGAL CASES

Economy Fire & Cas. Co. v. Brumfield

Seip v. Rogers Raw Materials Fund, LP

Giannini v. Kumho Tire USA, Inc.

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