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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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John W. Cobb

Bankruptcy, Contract, Criminal, Estate Planning

Status: In Good Standing

FREE CONSULTATION

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724 Broadway, Newburgh, NY 12550

Robert Thomas Lawless

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 11 Years

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Department Of Law, West Point, NY 10996

Patrick Sylvanus Tittle

Employment, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 30 Years

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1207 Route 9, Wappingers Falls, NY 12590

Mary Kathryn Guccion

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

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1136 Route 9, Wappingers Falls, NY 12590

Michelle Lynn Trier

Bankruptcy & Debt

Status: In Good Standing Licensed: 14 Years

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1136 Route 9, Wappingers Falls, NY 12590

Dario Dilello

Commercial Real Estate, Bankruptcy, Bankruptcy & Debt, Personal Injury

Status: In Good Standing

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725 Route 9, Fishkill, NY 12524

Daniel R. Miller

Real Estate, Litigation, Trusts, Bankruptcy & Debt

Status: In Good Standing

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Fishkill, NY 12524

Edward Papa

Bankruptcy & Debt, Real Estate, Divorce, Estate

Status: In Good Standing Licensed: 23 Years

FREE CONSULTATION

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436-B Robinson Avenue, Newburgh, NY 12550

Lawrence Marshal Klein

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 65 Years

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17 N Plank Rd, Newburgh, NY 12550

Matthew David Hindin

Consumer Rights, Business, Collection

Status: In Good Standing Licensed: 18 Years

CONTACT

2 Summit Ct, Fishkill, NY 12524

800-923-0641

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LEGAL TERMS

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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.

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.

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.

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.

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Castle Point Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John W. Cobb

Robert Thomas Lawless

Patrick Sylvanus Tittle

Mary Kathryn Guccion

Michelle Lynn Trier

Dario Dilello

Daniel R. Miller

Edward Papa

Lawrence Marshal Klein

Matthew David Hindin

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LEGAL TERMS

BULK SALES LAW

BANKRUPTCY

HOUSEHOLDER

TOXIC TORT

CHAPTER 7 BANKRUPTCY

DEBT COLLECTOR

MEANS TEST

GARNISHMENT

NONEXEMPT PROPERTY

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