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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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Kenneth Gallant

Bankruptcy & Debt, Bankruptcy, Credit & Debt

Status: In Good Standing

FREE CONSULTATION

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1425 Jefferson Road, Rochester, NY 14623

Frederick Matthew Rarick

Criminal, Bankruptcy

Status: In Good Standing Licensed: 41 Years

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39 Ellicott St, Batavia, NY 14020

David Leigh Metzler

Traffic, Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 53 Years

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104 Bank St, Batavia, NY 14020

Thomas Francis Turturo

Estate, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 15 Years

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5130 E Main Street Rd, Batavia, NY 14020

Debra Lobello Burhans

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

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4961 Ford Rd, Elba, NY 14058

Charles Conrad Welch

Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

1722 Lake Rd, Hamlin, NY 14464

Heather Engel

General Practice

Status: Inactive Licensed: 30 Years

CONTACT

16 Old French Rd, Honeoye Falls, NY 14472

Heather C. Engel

General Practice

Status: Inactive Licensed: 30 Years

CONTACT

16 Old French Rd, Honeoye Falls, NY 14472

Theron Edwin Howard

Foreclosure, State Government, Estate Planning, Banking & Finance, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

15 Clay St, Le Roy, NY 14482

Audrey M. Farber

Foreclosure, Litigation, Election & Political, Transactions, Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

175 Mile Crossing Blvd, Rochester, NY 14624

800-923-0641

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LEGAL TERMS

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

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.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

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Clarkson Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Kenneth Gallant

Frederick Matthew Rarick

David Leigh Metzler

Thomas Francis Turturo

Debra Lobello Burhans

Charles Conrad Welch

Heather Engel

Heather C. Engel

Theron Edwin Howard

Audrey M. Farber

TIPS

LEGAL TERMS

HOUSEHOLDER

PRIORITY DEBT

PRESUMED ABUSE

AUTOMATIC STAY

CHAPTER 13 BANKRUPTCY

TRADE DRESS

CREDIT COUNSELING

FRATERNAL BENEFIT SOCIETY BENEFITS

DEBIT CARD

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