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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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Stuart Lee Druckman

Real Estate, Business, Bankruptcy & Debt

Status: Retired Licensed: 37 Years

CONTACT

242 Drexel Ave, Westbury, NY 11590

Maria Sideris

Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

242 Drexel Ave, Old Westbury, NY 11590

Roselina Serrano

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 14 Years

CONTACT

2 Jericho Plaza, Jericho, NY 11753

Frank Michael Paladino

Real Estate, Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

400 Post Ave, Old Westbury, NY 11590

Bradley T. Slover

Corporate, Contract, Business Organization, Collection

Status: In Good Standing Licensed: 16 Years

CONTACT

173 School St, Old Westbury, NY 11590

Lynda Madera Vaillant

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

350 Jericho Tpke, Jericho, NY 11753

Ashley Andrews-Santillo

Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 15 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Jeanne M. Reardon

Litigation, Business, Bankruptcy & Debt, Defamation & Slander

Status: In Good Standing

CONTACT

366 N Broadway, Jericho, NY 11753

Russell Adam Rothbort

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 14 Years

CONTACT

300 Jericho Quadrangle, Jericho, NY 11753

Janet F. Brunell

Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

800-923-0641

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LEGAL TERMS

CREDITOR

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

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

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.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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.

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Old Westbury Bankruptcy & Debt Lawyer, New York, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Stuart Lee Druckman

Maria Sideris

Roselina Serrano

Frank Michael Paladino

Bradley T. Slover

Lynda Madera Vaillant

Ashley Andrews-Santillo

Jeanne M. Reardon

Russell Adam Rothbort

Janet F. Brunell

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LEGAL TERMS

CREDITOR

SECRET WARRANTY PROGRAM

SOLE PROPRIETORSHIP

DOING BUSINESS AS (DBA)

BULK SALES LAW

AUTOMATIC STAY

NONDISCHARGEABLE DEBTS

DISCHARGEABLE DEBTS

CURRENT MONTHLY INCOME

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