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Gary Schafkopf
About | Practice Areas
Schafkopf Law LLC
11 Bala Ave Bala Cynwyd, PA 19004» view map
Bankruptcy & Debt
We Are Here To Help You

Gary Schafkopf is a practicing lawyer in the states of Pennsylvania and New Jersey who focuses on cases in Bankruptcy & Debt, Employment, and Real Estate.

800-970-4781
1. Gary Schafkopf Bala Cynwyd, PA
  Attorney at Law- PA, 1999
  Schafkopf Law LLC
2. AboutSchafkopf Law LLC
  We Are Here To Help You
3. Practice AreasExpertise
  Bankruptcy & Debt
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Charles H. Jeanfreau

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

485 Route 1 South, Iselin, NJ 08830

Charles H. Jeanfreau

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

485 Route 1 South, Iselin, NJ 08830

Charles Vincent Quinn

Real Estate, Contract, Business, Credit & Debt

Status: In Good Standing

CONTACT

205 Main St, Woodbridge, NJ 07095

Christopher Joseph Portee

Foreclosure, Litigation, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 13 Years

CONTACT

502 Amboy Ave, Perth Amboy, NJ 08861

Christopher Canada

Estate, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: Retired Licensed: 30 Years

CONTACT

21 Brant Avenue, Clark, NJ 07066

David Michael Hutt

Military & Veterans Appeals, Commercial Real Estate, Estate Planning, Collection

Status: In Good Standing Licensed: 37 Years

CONTACT

459 Amboy Avenue, Woodbridge, NJ 07095

David H Stein

Litigation, Banking & Finance, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

90 Woodbridge Center Dr, Woodbridge, NJ 07095

David L. Bruck

Real Estate, Litigation, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Woodbridge, NJ 07095

David Stein

Litigation, Banking & Finance, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

90 Woodbridge Center Dr, Woodbridge, NJ 07095

David Bruck

Bankruptcy, Employment, Criminal

Status: In Good Standing

CONTACT

Iselin, NJ 08830

800-923-0641

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LEGAL TERMS

COLLATERAL

Property that guarantees payment of a secured debt.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

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.

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.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

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Sewaren Bankruptcy & Debt Lawyer, New Jersey, page 2

Sponsored Law Firm

Schafkopf Law LLC

SPONSORED LAWYERS

Charles H. Jeanfreau

Charles H. Jeanfreau

Charles Vincent Quinn

Christopher Joseph Portee

Christopher Canada

David Michael Hutt

David H Stein

David L. Bruck

David Stein

David Bruck

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LEGAL TERMS

COLLATERAL

WINDING UP

CHAPTER 13 BANKRUPTCY

BULK SALES LAW

LIABILITY

C CORPORATION

S CORPORATION

LIMITED PARTNERSHIP

SECRET WARRANTY PROGRAM

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