Sherman Credit & Debt Lawyer, Illinois, page 4

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Matthew John Cate

Commercial Real Estate, Transactions, Business, Bankruptcy & Debt
Status:  In Good Standing           

Bernard Gordon Segatto

Workers' Compensation, Banking & Finance, Bankruptcy, Personal Injury
Status:  In Good Standing           

Matthew Cate

Commercial Real Estate, Wills & Probate, Estate, Transactions, Bankruptcy
Status:  In Good Standing           

Brittany Toigo

International Tax, Estate Planning, Divorce, Bankruptcy
Status:  In Good Standing           Licensed:  14 Years

Linda A. O'Brien

Municipal, Civil Rights, Bankruptcy
Status:  In Good Standing           Licensed:  25 Years

Emmet A. Fairfield

Corporate, Banking & Finance, Bankruptcy Litigation, Bankruptcy
Status:  In Good Standing           Licensed:  43 Years

Denise Druhot

Collection, Estate Planning, Medical Malpractice
Status:  In Good Standing           Licensed:  37 Years

Kevin James Born

Bankruptcy, Civil Rights, Federal Appellate Practice
Status:  In Good Standing           Licensed:  11 Years

Pamela Ellen Hart

Tax, Divorce & Family Law, Business & Trade, Bankruptcy
Status:  In Good Standing           Licensed:  15 Years

Jason Todd Hendrik Germeraad

Civil Rights, Trade Associations, Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           Licensed:  19 Years

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LEGAL TERMS

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)
A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)
Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)
An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

FCRA

See Fair Credit Reporting Act.

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

FDCPA

See Fair Debt Collections & Practices Act.

SAMPLE LEGAL CASES

Portfolio Acquisitions, LLC v. Feltman

... On June 28, 2005, plaintiff filed its initial complaint against defendant to collect on an alleged defaulted credit card debt. ... Plaintiff asserts that it is well entrenched in Illinois law that the statute of limitations for an action on a credit card debt is 10 years. ...

Treadway v. NATIONS CREDIT FINANCIAL SERVS.

... appeals the order of the circuit court of Madison County that dismissed his class action complaint against the defendant, Nations Credit Financial Services ... knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with ...

Laubner v. JP Morgan Chase Bank, NA

... More to the point, plaintiffs have not set forth any facts to show why $11,500 per month is not enough to sustain their respective lifestyles in a manner that is "comfortable." Plaintiffs make no allegations of debt (aside from the credit debt that trustees paid off), steep mortgage ...

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