Woodbury Bankruptcy & Debt Lawyer, Vermont, page 2

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.

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.