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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

George W. Redder

Corporate, Business Organization, Bankruptcy, Divorce

Status: In Good Standing

CONTACT

243 Wall Street, Kingston, NY 12401

Jerrold W. Bartman

Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

409 New Karner Road, Albany, NY 12205

Marc S. Ehrlich

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

64 2nd Street, Troy, NY 12180

Lanny Earl Walter

Real Estate Other, Wills & Probate, Bankruptcy

Status: In Good Standing Licensed: 54 Years

CONTACT

301 Van Vlierden Rd, Saugerties, NY 12477

Jonathan D. Katz

Child Support, Corporate, Business Organization, Bankruptcy

Status: In Good Standing Licensed: 42 Years

CONTACT

318 Main St, Saugerties, NY 12477

Ariadne Santiago Montare

Real Estate, Litigation, Lawsuit & Dispute, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

Rhinebeck, NY 12572

David I Bacon

Lawsuit & Dispute, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 47 Years

CONTACT

125 Trinity Pl, Selkirk, NY 12158

David Irving Bacon

Lawsuit & Dispute, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 47 Years

CONTACT

125 Trinity Pl, Selkirk, NY 12158

Franklyn J. Engel

Foreclosure, Criminal, Consumer Protection, Bankruptcy

Status: In Good Standing Licensed: 53 Years

CONTACT

13 Streamside Ter, Woodstock, NY 12498

Brian Juran

Bankruptcy & Debt, Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

654 Aaron Ct, Kingston, NY 12401

800-923-0641

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LEGAL TERMS

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

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.

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

... Department. Decided April 1, 2008. Concur â€” Gonzalez, JP, Williams, Catterson and Moskowitz, JJ. On or about February 21, 2001, plaintiff filed a petition in the United States Bankruptcy Court for the District of New Jersey. Some ...

Insurance Co. v. HSBC BANK USA

... We are asked in this case to decide whether a Bankruptcy Court order allowing a creditor to seize a debtor's bank account is entitled to res judicata effect in a subsequent state proceeding alleging that a portion of the funds in the account were state tax proceeds that should not ...

White v. Mazella-White

... which was to vacate the aforesaid inquest be made part of this judgment; and it is further," and (3) by deleting the fifth decretal paragraph thereof awarding the defendant the principal sum of $85,000 in equitable distribution payable to the defendant's trustee in bankruptcy; as so ...

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Claverack Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

George W. Redder

Jerrold W. Bartman

Marc S. Ehrlich

Lanny Earl Walter

Jonathan D. Katz

Ariadne Santiago Montare

David I Bacon

David Irving Bacon

Franklyn J. Engel

Brian Juran

TIPS

LEGAL TERMS

ADMINISTRATIVE EXPENSES

LOSS DAMAGE WAIVER (LDW)

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

LIMITED LIABILITY

BULK SALES LAW

WINDING UP

TRADE NAME

CURRENT MONTHLY INCOME

COLLECTION AGENCY

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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