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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

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

Marcea Clark Tetamore

Real Estate, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

Avon, NY 14414

Dennis R. Dawson

Bankruptcy

Status: In Good Standing Licensed: 46 Years

CONTACT

Geneseo, NY 14454

Thomas Francis Turturo

Estate, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

5130 E Main Street Rd, Batavia, NY 14020

Teresa Kowalczyk

Other, Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

30 Park St, Warsaw, NY 14569

David Leigh Metzler

Traffic, Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 53 Years

CONTACT

104 Bank St, Batavia, NY 14020

Frederick Matthew Rarick

Criminal, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

39 Ellicott St, Batavia, NY 14020

Vincent Orsland Ladd

Real Estate, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: Inactive Licensed: 58 Years

CONTACT

Warsaw, NY 14569

Heather Engel

General Practice

Status: Inactive Licensed: 30 Years

CONTACT

16 Old French Rd, Honeoye Falls, NY 14472

800-923-0641

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LEGAL TERMS

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

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Linwood Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Kenneth Gallant

Theron Edwin Howard

Marcea Clark Tetamore

Dennis R. Dawson

Thomas Francis Turturo

Teresa Kowalczyk

David Leigh Metzler

Frederick Matthew Rarick

Vincent Orsland Ladd

Heather Engel

TIPS

LEGAL TERMS

UNSECURED DEBT

DISCHARGEABLE DEBTS

BULK SALES LAW

LIMITED PARTNERSHIP

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

GUARANTEED RESERVATION

PRIORITY DEBT

CREDITOR

AUTOMATIC STAY

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