Silver Lake Bankruptcy & Debt Lawyer, Wisconsin

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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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John A. Ward

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Criminal, Bankruptcy & Debt, Estate, Divorce & Family Law, DUI-DWI

Some lawyers focus on plea bargaining. Others concentrate on mediation. At the office of John Anthony Ward, Attorney at Law, we are not afraid of a fi... (more)

CONTACT

262-205-6599

3636 80th Street, Kenosha, WI 53142

Anton B. Nickolai

Estate Planning, Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

308 Milwaukee Ave, Burlington, WI 53105

Alyssa S. Wilson

Real Estate, Estate, Employment, Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

415 Broad St, Lake Geneva, WI 53147

Anthony J. Kryshak

Bankruptcy & Debt, Divorce & Family Law, Accident & Injury, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 18 Years

FREE CONSULTATION

CONTACT

6127 Green Bay Rd 101, Kenosha, WI 53142

Chomi Prag

State Appellate Practice, Divorce, Business, Bankruptcy

Status: In Good Standing

CONTACT

6216 Washington Ave., Racine, WI 53406

David M. Reddy

Real Estate, Lawsuit & Dispute, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

CONTACT

1800 County Rd Nn, Elkhorn, WI 53121

Eric Routman

Insurance, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

5416 3Rd Avenue, Kenosha, WI 53140

Eric Lawrence Routman

Insurance, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

5416 3Rd Avenue, Kenosha, WI 53140

Jay Nixon

Bankruptcy & Debt, Foreclosure, Criminal, Traffic

Status: In Good Standing

FREE CONSULTATION

CONTACT

333 Main St., Racine, WI 53403

Jay K. Nixon

Immigration, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 44 Years

CONTACT

1119 60Th St, Kenosha, WI 53140

800-923-0641

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LEGAL TERMS

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.

FCBA

See Fair Credit Billing Act.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

CREDITOR

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

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

CREDIT FILE

See credit report.

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.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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Silver Lake Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John A. Ward

Anton B. Nickolai

Alyssa S. Wilson

Anthony J. Kryshak

Chomi Prag

David M. Reddy

Eric Routman

Eric Lawrence Routman

Jay Nixon

Jay K. Nixon

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LEGAL TERMS

LIABILITY

FCBA

DEFINED CONTRIBUTION PLAN

S CORPORATION

CREDITOR

DEBT COLLECTOR

CREDIT FILE

SUBROGATION

NONPROFIT CORPORATION

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