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

Christine Ida Panos

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

2215 S Wolf Road, Hillside, IL 60162

Christine Panos

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

2215 S Wolf Road, Hillside, IL 60162

Brett A. Kaufman

Bankruptcy & Debt, Bankruptcy, Accident & Injury, Personal Injury, Workers' Compensation

Status: In Good Standing

FREE CONSULTATION

CONTACT

4415 West Harrison St, Hillside, IL 60162

Jerry Kokolis

Commercial Real Estate, Consumer Protection, Antitrust, Commercial Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

106 W. Calendar Court, La Grange, IL 60525

David P Lloydq

Bankruptcy, Personal Injury, Employment Discrimination, Foreclosure

Status: In Good Standing

CONTACT

615 South La Grange Road, La Grange, IL 60525

Subramaniam Chandraiah

Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

512 W Burlington Ave, La Grange, IL 60525

John Felice Lara

Bankruptcy, Estate

Status: In Good Standing Licensed: 8 Years

CONTACT

1022 S. La Grange Rd, La Grange, IL 60525

Fredrick Harbecke

Real Estate, Business, Bankruptcy & Debt, Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

440 S Madison Ave, La Grange, IL 60525

Fredrick Rahn Harbecke

Real Estate, Business, Bankruptcy & Debt, Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

440 S Madison Ave, La Grange, IL 60525

Michael Joseph Mccrery

Land Use & Zoning, Commercial Bankruptcy, State and Local, Construction

Status: In Good Standing Licensed: 37 Years

CONTACT

411 W Hillgrove Ave, La Grange, IL 60525

800-923-0641

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LEGAL TERMS

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.

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.

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.

DISCHARGE (OF DEBTS)

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

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

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.

SAMPLE LEGAL CASES

Economy Fire & Cas. Co. v. Brumfield

... Appellees and Cross-Appellants, v. Hollis L. BRUMFIELD, Defendant and Counterplaintiff- Appellant and Cross-Appellee, and Michael J. Drewes; Constance Drewes; Beau Drewes; Zachary Fitzpatrick; Dan Fitzpatrick; Cindy Fitzpatrick; Steve Miller, Trustee in Bankruptcy for the ...

Seip v. Rogers Raw Materials Fund, LP

... Upon learning this, Beeland immediately sought to have the assets transferred either to Refco, LLC, or back to the original brokerage accounts. D. Refco Bankruptcy and the Special Redemption Letter. ... (2006)). Refco, LLC, filed for bankruptcy as well in November 2005. ...

Giannini v. Kumho Tire USA, Inc.

... While there are no Illinois cases addressing the stay granted in Rule 306, Garbe Iron Works held that the two-year statute of limitations for filing a mechanics' lien foreclosure was tolled by the automatic stay provision contained in the Federal Bankruptcy Act (11 USC Â§ 362(a)(1 ...

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Lyons Bankruptcy Lawyer, Illinois, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Christine Ida Panos

Christine Panos

Brett A. Kaufman

Jerry Kokolis

David P Lloydq

Subramaniam Chandraiah

John Felice Lara

Fredrick Harbecke

Fredrick Rahn Harbecke

Michael Joseph Mccrery

TIPS

LEGAL TERMS

GUARANTOR

LIMITED PARTNERSHIP

CURRENT MONTHLY INCOME

DISCHARGE (OF DEBTS)

CREDIT BUREAU

C CORPORATION

DEFINED CONTRIBUTION PLAN

WINDING UP

DISCHARGEABLE DEBTS

SAMPLE LEGAL CASES

Economy Fire & Cas. Co. v. Brumfield

Seip v. Rogers Raw Materials Fund, LP

Giannini v. Kumho Tire USA, Inc.

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