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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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Rosemarie E. Matera

Litigation, Corporate, Business Organization, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

664 Chestnut Ridge Road, Spring Valley, NY 10977

Mitchell Jeffrey Canter

Child Custody, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

100 Airport Executive Park, Nanuet, NY 10954

Marie Condoluci

Real Estate, Lawsuit, Patent, Bankruptcy, Wrongful Death

Status: In Good Standing Licensed: 26 Years

CONTACT

27 Carmen Dr, Nanuet, NY 10954

Wayne Anthony Gavioli

Industry Specialties, Family Law, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 48 Years

CONTACT

101 N Middletown Rd, Nanuet, NY 10954

Thomas Sassone

Immigration, Divorce, DUI-DWI, Bankruptcy & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

22 S Main St, New City, NY 10956

Ronald V. De Caprio

Criminal, Corporate, Business Organization, Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

18 Laurel Rd, New City, NY 10956

Michael Patrick O'Connor

Real Estate, Divorce & Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 37 Years

CONTACT

10 Esquire Rd, New City, NY 10956

Elizabeth Anne Haas

Credit & Debt, Collection, Bankruptcy, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 47 Years

CONTACT

254 S Main St, New City, NY 10956

Alan G. Merkin

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

Status: In Good Standing Licensed: 35 Years

CONTACT

254 S Main St, New City, NY 10956

Jay Russell Golland

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

Status: In Good Standing

CONTACT

254 S Main St, New City, NY 10956

800-923-0641

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LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

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.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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West Nyack Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Rosemarie E. Matera

Mitchell Jeffrey Canter

Marie Condoluci

Wayne Anthony Gavioli

Thomas Sassone

Ronald V. De Caprio

Michael Patrick O'Connor

Elizabeth Anne Haas

Alan G. Merkin

Jay Russell Golland

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LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

NONPROFIT CORPORATION

LIMITED PARTNERSHIP

LIABILITY

REAFFIRMATION

SECRET WARRANTY PROGRAM

HOUSEHOLDER

FAIR LABOR STANDARDS ACT (FLSA)

MEANS TEST

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