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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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David Kenneth Kowalenko

Real Estate, Lawsuit & Dispute, Business, Collection

Status: In Good Standing Licensed: 14 Years

CONTACT

271 Avenue, Brooklyn, NY 11223

Morris Fateha

Landlord-Tenant, Immigration, Collection, Medical Malpractice

Status: In Good Standing Licensed: 17 Years

CONTACT

911 Avenue, Brooklyn, NY 11223

Robert J. Nahoum

Landlord-Tenant, Defect and Lemon Law, Litigation, Collection

Status: In Good Standing

CONTACT

48 Willoughby St., Brooklyn, NY 11201

Yelena Kozlova

Insurance, Credit & Debt, Collection, Bankruptcy Litigation

Status: In Good Standing Licensed: 15 Years

CONTACT

1810 Voorhies Avenue, Brooklyn, NY 11235

Kenneth Patrick Warner

Real Estate, Motor Vehicle, Consumer Protection, Collection

Status: In Good Standing Licensed: 33 Years

CONTACT

55 Cherry Ln, Carle Place, NY 11514

Joseph Obermeister

Collection

Status: In Good Standing Licensed: 16 Years

CONTACT

136-B Cedarhurst Ave, Cedarhurst, NY 11516

Paul David Jaffe

Landlord-Tenant, Family Law, Children's Rights, Collection

Status: In Good Standing Licensed: 61 Years

CONTACT

Chappaqua, NY 10514

Scott B. Tulman

Other, Lawsuit & Dispute, Criminal, Collection

Status: In Good Standing Licensed: 41 Years

CONTACT

18 Haights Cross Rd, Chappaqua, NY 10514

Frank Nicholas Napoli

Litigation, Collection

Status: In Good Standing Licensed: 34 Years

CONTACT

357 Veterans Memorial Hwy, Commack, NY 11725

Gregory Michael Savran

Collection

Status: In Good Standing Licensed: 15 Years

CONTACT

108 Roxbury Dr, Commack, NY 11725

800-923-0641

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800-943-8690

Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

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.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

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.

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New York Collection Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Kenneth Kowalenko

Morris Fateha

Robert J. Nahoum

Yelena Kozlova

Kenneth Patrick Warner

Joseph Obermeister

Paul David Jaffe

Scott B. Tulman

Frank Nicholas Napoli

Gregory Michael Savran

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LEGAL TERMS

LIMITED LIABILITY

NUISANCE FEES

BULK SALES LAW

COLLECTION AGENCY

401(K) PLAN

FORBEARANCE

PRESUMED ABUSE

GARNISHMENT

ACCORD AND SATISFACTION

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