Hollowville Collection Lawyer, New York

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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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Craig H. Norman

Collection

Status: In Good Standing

CONTACT

122 Remsen Street, Cohoes, NY 12047

Ian L. Crimmins

Estate Planning, Family Law, Criminal, Collection

Status: In Good Standing

FREE CONSULTATION

CONTACT

18 Park Row, Chatham, NY 12037

Adam Hill Cooper

Other, Real Estate, Collection, Accident & Injury

Status: In Good Standing Licensed: 20 Years

CONTACT

20 Corporate Woods Blvd, Albany, NY 12211

Bernhardt Karp

International, Estate, Collection

Status: In Good Standing Licensed: 61 Years

CONTACT

1 Hudson City Ctr, Hudson, NY 12534

Brett Anders Colbert

Civil Rights, Banking & Finance, Collection, Personal Injury

Status: In Good Standing Licensed: 14 Years

CONTACT

2 Jefferson Plaza, Poughkeepsie, NY 12601

Brett Anders Colbert

Civil Rights, Corporate, Collection, Personal Injury

Status: In Good Standing Licensed: 14 Years

CONTACT

2 Jefferson Plaza, Poughkeepsie, NY 12601

Daniel Gartenstein

Collection

Status: In Good Standing Licensed: 33 Years

CONTACT

Kingston, NY 12402

Dannielle Cole O'Toole

Income Tax, Employee Rights, Banking & Finance, Collection

Status: In Good Standing Licensed: 10 Years

CONTACT

110 Main St, Poughkeepsie, NY 12601

David George Anderson

Real Estate, Government, Collection

Status: In Good Standing

CONTACT

540 Broadway, Albany, NY 12201

Elliott F Marinstein

Construction, Business Organization, Banking & Finance, Collection

Status: In Good Standing Licensed: 70 Years

CONTACT

22 1St St, Troy, NY 12180

800-923-0641

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LEGAL TERMS

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

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.

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

FCBA

See Fair Credit Billing Act.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

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Hollowville Collection Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Craig H. Norman

Ian L. Crimmins

Adam Hill Cooper

Bernhardt Karp

Brett Anders Colbert

Brett Anders Colbert

Daniel Gartenstein

Dannielle Cole O'Toole

David George Anderson

Elliott F Marinstein

TIPS

LEGAL TERMS

REDEMPTION

LIABILITY

NONPROFIT CORPORATION

MEANS TEST

S CORPORATION

INFRINGEMENT (OF TRADEMARK)

FCBA

DISCHARGE (OF DEBTS)

LIEN

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