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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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Jerry Borden

Litigation, Transactions, Collection

Status: In Good Standing

CONTACT

55 West Monroe Street, Chicago, IL 60603

Richard Sulkowski

Collection, Banking & Finance, Corporate

Status: In Good Standing

CONTACT

180 N. Lasalle Street, Chicago, IL 60601

Richard Paul Sulkowski

Collection, Banking & Finance, Corporate

Status: In Good Standing

CONTACT

180 N. Lasalle Street, Chicago, IL 60601

Paul Orenic

Civil Rights, Banking & Finance, Collection, Bankruptcy

Status: In Good Standing

CONTACT

180 North LaSalle Street, Chicago, IL 60601

Paul Matthew Orenic

Civil Rights, Banking & Finance, Collection, Bankruptcy

Status: In Good Standing

CONTACT

180 North LaSalle Street, Chicago, IL 60601

Roland Lara

Landlord-Tenant, Litigation, Transactions, Collection

Status: In Good Standing Licensed: 24 Years

CONTACT

Chicago, IL 60680

Roland Charles Lara

Landlord-Tenant, Litigation, Transactions, Collection

Status: In Good Standing Licensed: 24 Years

CONTACT

Chicago, IL 60680

Michael Matek

Litigation, Banking & Finance, Collection, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

77 W Washington St, Chicago, IL 60602

Michael S. Matek

Litigation, Banking & Finance, Collection, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

77 W Washington St, Chicago, IL 60602

James Gregory Martignon

Securities, Litigation, Collection, Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

500 W Madison St, Chicago, IL 60661

800-923-0641

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LEGAL TERMS

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

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.

FCBA

See Fair Credit Billing Act.

FCRA

See Fair Credit Reporting Act.

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.

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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Chicago Collection Lawyer, Illinois, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jerry Borden

Richard Sulkowski

Richard Paul Sulkowski

Paul Orenic

Paul Matthew Orenic

Roland Lara

Roland Charles Lara

Michael Matek

Michael S. Matek

James Gregory Martignon

TIPS

LEGAL TERMS

MEETING OF CREDITORS

LIABILITY

INFRINGEMENT (OF TRADEMARK)

DEBT COLLECTOR

MEANS TEST

FCBA

FCRA

PRESUMED ABUSE

NONEXEMPT PROPERTY

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