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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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Georgette Miller

Foreclosure, Social Security, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

FREE CONSULTATION

CONTACT

61-43 186th Street, Fresh Meadows, NY 11365

Mel Jacoby

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law

Status: In Good Standing

FREE CONSULTATION

CONTACT

61-43 186 Street, Fresh Meadows, NY 11365

Jacqueline Torchin Carey

Criminal, Divorce & Family Law, Bankruptcy & Debt, Securities Fraud

Status: In Good Standing Licensed: 34 Years

CONTACT

125-10 Queens Boulevard, Kew Gardens, NY 11415

Stephan B. Gleich

Litigation, Corporate, Contract, Bankruptcy & Debt

Status: In Good Standing Licensed: 50 Years

CONTACT

36 South Station Plaza, Great Neck, NY 11021

Jason Paul Sackoor

Real Estate, Foreclosure, Bankruptcy & Debt

Status: In Good Standing

CONTACT

19-02 Whitestone Expressway, Whitestone, NY 11357

Ira S. Newman

Sexual Harassment, Elder Law, Banking & Finance, Credit & Debt

Status: In Good Standing

CONTACT

20 Devon Rd, Great Neck, NY 11023

Joseph Gillette

Real Estate, Criminal, Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

21548 Jamaica Ave, Queens Village, NY 11428

Hal R. Ginsburg

Construction Liens, Complex Litigation, Arbitration, Collection

Status: In Good Standing Licensed: 41 Years

CONTACT

21548 Jamaica Ave, Queens Village, NY 11428

Nathan Erlich

Business & Trade, Corporate, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

10818 Queens Blvd, Forest Hills, NY 11375

Allan R. Bloomfield

Divorce, Consumer Protection, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

11821 Queens Blvd, Forest Hills, NY 11375

800-923-0641

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LEGAL TERMS

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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 INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

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Bayside Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Georgette Miller

Mel Jacoby

Jacqueline Torchin Carey

Stephan B. Gleich

Jason Paul Sackoor

Ira S. Newman

Joseph Gillette

Hal R. Ginsburg

Nathan Erlich

Allan R. Bloomfield

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LEGAL TERMS

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

NONPROFIT CORPORATION

ABUSE

CREDIT INSURANCE

HOUSEHOLDER

CREDITOR

CHAPTER 13 PLAN

AUTOMATIC STAY

LIMITED LIABILITY

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