Shawano County, WI Bankruptcy & Debt Lawyers

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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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Not enough matches for Shawano Bankruptcy & Debt lawyer.
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Timothy J. Schmid

Real Estate, Dispute Resolution, Immigration, Health Care

Status: In Good Standing Licensed: 46 Years

CONTACT

208 W Green Bay St, Shawano, WI 54166

Thomas R. Marlier

Employment, Divorce & Family Law, Criminal

Status: In Good Standing Licensed: 47 Years

CONTACT

N6420 Old Lake Rd, Shawano, WI 54166

James A. Chereskin

Civil & Human Rights, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

208 W Green Bay St, Shawano, WI 54166

David R. Winter

Education, Traffic, Family Law, Child Custody

Status: In Good Standing Licensed: 42 Years

CONTACT

111 N Main St, Shawano, WI 54166

Sharon Greene-Gretzinger

Estate, Civil & Human Rights, Business

Status: In Good Standing Licensed: 33 Years

CONTACT

503 S Main St, Shawano, WI 54166

James E. Vomastic

Landlord-Tenant, Traffic, Dispute Resolution, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1488 E Green Bay St, Shawano, WI 54166

James R. Habeck

Government, Estate

Status: In Good Standing Licensed: 45 Years

CONTACT

N5681 Riverside Dr, Shawano, WI 54166

Earl W. Schmidt

General Practice

Status: In Good Standing Licensed: 52 Years

CONTACT

N9827 Whipoorwill Dr, Birnamwood, WI 54414

John S. Bartholomew

Divorce, Divorce & Family Law, Personal Injury

Status: In Good Standing Licensed: 51 Years

CONTACT

136 E Division St, Shawano, WI 54166

Carol Blythe Nawrocki

General Practice

Status: In Good Standing Licensed: 27 Years

CONTACT

W7686 County Rd, Shawano, WI 54166

800-923-0641

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LEGAL TERMS

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

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.

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Shawano County, WI Bankruptcy & Debt Lawyers

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Timothy J. Schmid

Thomas R. Marlier

James A. Chereskin

David R. Winter

Sharon Greene-Gretzinger

James E. Vomastic

James R. Habeck

Earl W. Schmidt

John S. Bartholomew

Carol Blythe Nawrocki

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LEGAL TERMS

NONEXEMPT PROPERTY

BANKRUPTCY

PREFERENCE

GARNISHMENT

LIABILITY

CHAPTER 13 PLAN

CHAPTER 13 BANKRUPTCY

BANKRUPTCY TRUSTEE

CHAPTER 7 BANKRUPTCY

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