Waterville Bankruptcy & Debt Lawyer, Maine

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E. Chris L'Hommedieu
About | Practice Areas
L'Hommedieu Law Office, P.A.
190 Bates Street Lewiston, ME 04240» view map
Bankruptcy & Debt
More Than Just A Law Firm

L'Hommedieu Law Office, P.A. has been providing the best in legal representation in Bankruptcy, Personal Injury, Disability and Family law since 1997.

800-941-5060
1. E. Chris L'Hommedieu Lewiston, ME
  Attorney at Law - ME, 1996
  University of Maine J.D. 1995
2. AboutL'Hommedieu Law Office, P.A.
  More Than Just A Law Firm
3. Practice AreasExpertise
  Bankruptcy & Debt
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Jason M. Jabar

✓ VERIFIED

Accident & Injury, Wrongful Death, Car Accident, Insurance, Bankruptcy & Debt

After law school, Jason worked in the Appellate Division of Unum Insurance Company. In 2001, Jason left Unum for private practice and he has been repr... (more)

FREE CONSULTATION

CONTACT

800-893-6630

1 Center Street, Waterville, ME 04901

John O'Donnell

Family Law, Adoption, Banking & Finance, Bankruptcy & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

160 College Avenue, Waterville, ME 04901

Mariah A. Gleaton

Elder Law, Insurance, Collection, Personal Injury

Status: In Good Standing

CONTACT

112 Silver Street, Waterville, ME 04901

Scott F. Hess

Real Estate, Litigation, Federal Appellate Practice, Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

72 Winthrop Street, Augusta, ME 04330

Mark L. Fortier

Commercial Real Estate, Family Law, Criminal, Collection

Status: In Good Standing Licensed: 40 Years

CONTACT

95 Water Street, Skowhegan, ME 04976

Rebecca A. Cayford

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

Status: In Good Standing Licensed: 38 Years

CONTACT

305 Water Street, Skowhegan, ME 04976

Warren C. Shay

Litigation, Corporate, Collection, Personal Injury

Status: Deceased Licensed: 50 Years

CONTACT

263 Water Street, Skowhegan, ME 04976

John D. Pelletier

Personal Injury, Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

Readfield, ME 04355

800-923-0641

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LEGAL TERMS

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

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.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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.

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.

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.

Waterville Bankruptcy & Debt Lawyer, Maine

Sponsored Law Firm

L'Hommedieu Law Office, P.A.

SPONSORED LAWYERS

Jason M. Jabar

John O'Donnell

Mariah A. Gleaton

Scott F. Hess

Mark L. Fortier

Rebecca A. Cayford

Warren C. Shay

John D. Pelletier

TIPS

LEGAL TERMS

NONEXEMPT PROPERTY

FORBEARANCE

PREFERENCE

IRS EXPENSES

SECURED DEBT

SOLE PROPRIETORSHIP

MEANS TEST

BULK SALES LAW

FCRA

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