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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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Gehi & Associates

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Immigration, Asylum, Deportation, Divorce, Bankruptcy

An Internationally Renowned Law Firm Based in New York. We handle immigration cases in the United States and all over the world.

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CONTACT

718-263-5999

74-09, 37th Avenue, Suite 205,, Jackson Heights, NY 11372

Vivian Mortimer Williams

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Landlord-Tenant, Immigration, Criminal, Bankruptcy, Personal Injury

VMW LAW is a general service law firm in New York City which was founded in 2004. With a broad array of legal services, the firm is dynamic and very p... (more)

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212-561-5312

733 3Rd Ave, New York, NY 10017

David Schachter

Business Organization, Collection, Banking & Finance, Bad Faith Insurance

Status: In Good Standing

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7409 37th Avenue, Jackson Heights, NY 11372

Jack Gladstein

Bankruptcy, Divorce, Immigration, Commercial Real Estate, Wills

Status: In Good Standing

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11821 Queens Boulevard, Forest Hills, NY 11375

Heather Lynn Gregg

Bankruptcy, Commercial Real Estate, Condominiums, Contract

Status: In Good Standing

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108-18 Queens Boulevard, Forest Hills, NY 11375

Joel Cohen

Criminal, Corporate, Collection

Status: In Good Standing

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Cherokee Station, New York, NY 10021

Michael S. Hiller

Arbitration, Corporate, Business Organization, Bankruptcy Litigation

Status: In Good Standing

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600 Madison Avenue, New York, NY 10022

William A. Tauber

Bankruptcy, Business Organization, Contract, Criminal

Status: In Good Standing

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1967 Turnbull Avenue, Bronx, NY 10473

Jerry C. Feuerstein

Antitrust, Bankruptcy, Corporate, Business Organization

Status: In Good Standing

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360 Lexington Avenue, New York, NY 10017

Warren R. Graham

Banking & Finance, Bankruptcy, Corporate, Reorganization

Status: In Good Standing

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292 Madison Avenue, New York, NY 10017

800-923-0641

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LEGAL TERMS

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

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Jackson Heights Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Gehi & Associates

Vivian Mortimer Williams

David Schachter

Jack Gladstein

Heather Lynn Gregg

Joel Cohen

Michael S. Hiller

William A. Tauber

Jerry C. Feuerstein

Warren R. Graham

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LEGAL TERMS

CHAPTER 13 PLAN

GUARANTOR

COLLATERAL

WINDING UP

NONPROFIT CORPORATION

CREDIT INSURANCE

ACCORD AND SATISFACTION

FORBEARANCE

BANKRUPTCY TRUSTEE

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