Algonquin Bankruptcy & Debt Lawyer, Illinois

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Abraham Michelson
About | Practice Areas
The Michelson Law Office
203 North Lasalle Street Suite 2100 Chicago, IL 60601Â» view map
Bankruptcy, Chapter 7, Chapter 13
Chicago Bankruptcy Lawyer

When your finances are at stake, choose the best. Don't sink deeper in debt. Contact The Michelson Law Office

800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
  Our legal team can advise you on your options for negotiating a solution.
3. Practice AreasServices
  Find out how an experienced attorney can help end calls and prevent lawsuits.
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Colleen Thomas

Divorce & Family Law, Bankruptcy, Child Custody, Child Support, Adoption

Thomas Law Office is a family law practice that handles divorce and bankruptcy cases, as well as child custody, child support, adoptions and more. For... (more)

CONTACT

847-426-7990

30 N. Western Avenue, Carpentersville, IL 60110

Sarah J. Holbrook

Bankruptcy, Foreclosure

Status: In Good Standing

CONTACT

2413 W. Algonquin Rd., Algonquin, IL 60102

Jack Bradley Fishman

Collection, Bankruptcy, Animal Bite, Corporate

Status: In Good Standing Licensed: 38 Years

CONTACT

1301 Pyott Rd, Lake In The Hills, IL 60156

Jack Fishman

Collection, Bankruptcy, Animal Bite, Corporate

Status: In Good Standing Licensed: 38 Years

CONTACT

1301 Pyott Rd, Lake In The Hills, IL 60156

Michele L. Aiken

Bankruptcy, Employee Rights

Status: In Good Standing Licensed: 17 Years

CONTACT

2413 W Algonquin Rd, Barrington, IL 60102

Sheila Diane Aiken

Consumer Bankruptcy, Bankruptcy

Status: In Good Standing Licensed: 18 Years

CONTACT

2413 W. Road, Algonquin, IL 60102

Michele Aiken

Bankruptcy, Employee Rights

Status: In Good Standing Licensed: 17 Years

CONTACT

2413 W Algonquin Rd, Barrington, IL 60102

Sheila Aiken

Bankruptcy, Employment, Income Tax, Bankruptcy

Status: In Good Standing Licensed: 18 Years

CONTACT

2413 W. Road, Algonquin, IL 60102

Mary E. Gardner

Civil Rights, Transactions, Collection, Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

106 Thorobred Ln, Dundee, IL 60118

Anne Bartos Miller

Bankruptcy, Estate, Real Estate, Mediation

Status: In Good Standing Licensed: 25 Years

CONTACT

1301 Pyott Rd., Lake in the Hills, IL 60156

800-923-0641

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LEGAL TERMS

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

PRESUMED ABUSE

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 te... (more...)

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.

GARNISHMENT

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 ... (more...)

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.

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.

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.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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Algonquin Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Colleen Thomas

Sarah J. Holbrook

Jack Bradley Fishman

Jack Fishman

Michele L. Aiken

Sheila Diane Aiken

Michele Aiken

Sheila Aiken

Mary E. Gardner

Anne Bartos Miller

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LEGAL TERMS

WORKOUT

NONEXEMPT PROPERTY

PRESUMED ABUSE

GARNISHMENT

BANKRUPTCY TRUSTEE

SECRET WARRANTY PROGRAM

DEBT COLLECTOR

SETOFF

UNDUE HARDSHIP

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