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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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Katie Marie Posewitz

Social Security, Workers' Compensation, Family Law, Collection

Status: In Good Standing Licensed: 14 Years

CONTACT

Ladysmith, WI 54848

Eric M Wiechert

Construction, Litigation, International Tax, Bankruptcy

Status: In Good Standing

CONTACT

Ladysmith, WI 54848

Michael D. Shiffler

Real Estate, Litigation, Estate Planning, Business, Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

128 W Division St, Medford, WI 54451

Kyle R Reimann

Traffic, Divorce, Federal Claims Court, Consumer Bankruptcy

Status: In Good Standing

CONTACT

100 S. Court St., Merrill, WI 54452

Benjamin J. Krautkramer

Business, Dispute Resolution, Collection, Wrongful Termination, Contract

Status: In Good Standing Licensed: 21 Years

CONTACT

415 Orbiting Dr, Mosinee, WI 54455

Bonnie Wachsmuth

Family Law, Divorce, Misdemeanor, Bankruptcy

Status: In Good Standing Licensed: 29 Years

CONTACT

124 E 5Th St, Owen, WI 54460

John W. Slaby

Corporate, Banking & Finance, Bankruptcy Litigation, Bankruptcy

Status: Deceased Licensed: 51 Years

CONTACT

Phillips, WI 54555

Patricia K. Hammel

Consumer Bankruptcy, Foreclosure, Indians & Native Populations, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

0, Wausau, WI 54401

James V. Block

Consumer Bankruptcy, Credit & Debt, Commercial Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

3544 Stewart Ave, Wausau, WI 54401

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

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.

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.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

FCBA

See Fair Credit Billing Act.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

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Medford Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Katie Marie Posewitz

Eric M Wiechert

Michael D. Shiffler

Kyle R Reimann

Benjamin J. Krautkramer

Bonnie Wachsmuth

John W. Slaby

Patricia K. Hammel

James V. Block

TIPS

LEGAL TERMS

CHAPTER 13 PLAN

PREFERENCE

TRADE DRESS

FORBEARANCE

BULK SALES LAW

SUBROGATION

CHAPTER 13 BANKRUPTCY

FCBA

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

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