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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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Benjamin David LaFrombois

Real Estate, Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

CONTACT

320 N Badger Ave, Appleton, WI 54914

Tim A. Korf

DUI-DWI, Bankruptcy & Debt

Status: In Good Standing Licensed: 43 Years

CONTACT

1738 Evergreen Ct, Custer, WI 54423

Anthony C. Kraujalis

Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

408 Conestoga Cir, Eagle, WI 53119

Michael C. Koehn

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

Status: In Good Standing Licensed: 40 Years

CONTACT

131 S Barstow St, Eau Claire, WI 54702

Peter B. King

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 43 Years

CONTACT

Fontana, WI 53125

Peter B King

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

Fontana, WI 53125

James H. Krave

Bankruptcy & Debt

Status: In Good Standing Licensed: 43 Years

CONTACT

103 E Oak St, Glenwood City, WI 54013

Robert B. Harris

Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

1785 Verlin Road, Green Bay, WI 54302

Theresa J. Schmieder

Other, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

2952 Crab Apple Ln, Green Bay, WI 54305

Brittany Anne Klaus

Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing

CONTACT

5300 South 108Th South, Hales Corners, WI 53130

800-923-0641

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LEGAL TERMS

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

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New Franken Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Benjamin David LaFrombois

Tim A. Korf

Anthony C. Kraujalis

Michael C. Koehn

Peter B. King

Peter B King

James H. Krave

Robert B. Harris

Theresa J. Schmieder

Brittany Anne Klaus

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LEGAL TERMS

INTEREST

REPOSSESSION

CHAPTER 7 BANKRUPTCY

FAIR CREDIT BILLING ACT (FCBA)

CREDIT INSURANCE

UNDUE HARDSHIP

TOXIC TORT

GARNISHMENT

MEETING OF CREDITORS

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