Washington Navy Yard Bankruptcy Lawyer, District of Columbia, page 5

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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Marc Andrew Hearron

Litigation, Intellectual Property, State Appellate Practice, Bankruptcy
Status:  In Good Standing           Licensed:  16 Years

Lisa Marie Bass

Litigation, Corporate, Business, Bankruptcy
Status:  In Good Standing           Licensed:  9 Years

Adam Paul Strochak

Litigation, Environmental Law Other, Commercial Bankruptcy, Bankruptcy & Debt
Status:  In Good Standing           Licensed:  27 Years

David R. Kuney

Commercial Bankruptcy
Status:  In Good Standing           Licensed:  47 Years
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Mark Jonathan McCrone

Complex Litigation, Bankruptcy
Status:  In Good Standing           Licensed:  10 Years

Joseph Bingham

Antitrust, Litigation, State Appellate Practice, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  10 Years

Stuart Robert Cohen

Public Interest Law, Elder Law, Civil & Human Rights, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  47 Years

Michael Moreno

Bankruptcy
Status:  Inactive           Licensed:  12 Years

Adam Mayle

Banking & Finance, State Government, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  9 Years

George R Calhoun

Litigation, Bankruptcy Litigation, Bankruptcy
Status:  In Good Standing           Licensed:  23 Years

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

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By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Email, Phone, Text Messages, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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LEGAL TERMS

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

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.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)
A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)
Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)
A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

SAMPLE LEGAL CASES

IN RE SHMUCKLER

... The Board on Professional Responsibility recommends that respondent Howard R. Shmuckler be disbarred pursuant to DCCode § 11-2503(a) (2001), because he was convicted of bankruptcy fraud in violation of 18 USC § 152(1) and (2) by the United States District Court for ...

FIDELITY NAT. TITLE INS. CO. v. Tillerson

... [5] The record shows that this property was the subject of a 2006 Chapter 11 bankruptcy proceeding in Stancil's name. On November 28, 2006, the bankruptcy trustee declared this property to be of insufficient value to satisfy the bankruptcy debts and abandoned it. ...

Kissi v. Hardesty

... It is undisputed that on September 7, 2000, appellant's company, DK & R Company ("DK & R"), which is incorporated in Delaware, filed for bankruptcy in the United States Bankruptcy Court for the District of Maryland and that on September 23, 2003, two Maryland condominium ...