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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 Metzner Leonardson

Real Estate, Government, Estate, Bankruptcy & Debt

Status: Licensed: 47 Years

CONTACT

Hudson, NY 12534

Franklyn J. Engel

Foreclosure, Criminal, Consumer Protection, Bankruptcy

Status: Licensed: 53 Years

CONTACT

13 Streamside Ter, Woodstock, NY 12498

David I Bacon

Lawsuit & Dispute, Family Law, Bankruptcy, Personal Injury, International Tax

Status: Licensed: 47 Years

CONTACT

125 Trinity Pl, Selkirk, NY 12158

Erin F. Casey

Corporate, Insurance, Legal Malpractice, Real Estate, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

83 Bullock Road, Slingerlands, NY 12159

Mario David Cometti

Real Estate, Estate Planning, Business & Trade, Consumer Bankruptcy, Family Law

Status: Licensed: 33 Years

CONTACT

Delmar, NY 12054

David M. Levine

Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 47 Years

CONTACT

Delmar, NY 12054

Richard William Bader

Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

158 Swift Rd, Voorheesville, NY 12186

David Ellis Blabey

Bankruptcy & Debt

Status: Licensed: 57 Years

CONTACT

27 Wexford Rd, Delmar, NY 12054

Kevin A. Moss

Criminal, Traffic, Credit & Debt, Personal Injury

Status: Licensed: 52 Years

CONTACT

462 Bond Rd, Altamont, NY 12009

Stephen Francis Bailly

Other, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 46 Years

CONTACT

15 Valleyview Dr, Albany, NY 12208

800-814-6700

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LEGAL TERMS

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

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.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

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.

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.

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.

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.

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Acra Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Metzner Leonardson

Franklyn J. Engel

David I Bacon

Erin F. Casey

Mario David Cometti

David M. Levine

Richard William Bader

David Ellis Blabey

Kevin A. Moss

Stephen Francis Bailly

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LEGAL TERMS

FRATERNAL BENEFIT SOCIETY BENEFITS

DISCHARGE (OF DEBTS)

LIABILITY

LIMITED PARTNERSHIP

LIEN

BANKRUPTCY

NUISANCE FEES

HOUSEHOLDER

CHAPTER 13 PLAN

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