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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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Michelle Lynn Wolfenden

Child Custody, Divorce & Family Law, Business, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

9517 Brewerton Rd, Brewerton, NY 13029

Erik Sobkiewicz

Bankruptcy & Debt

Status: Suspended Licensed: 35 Years

CONTACT

17 High Street, Carthage, NY 13619

Rafferty Elizabeth Taylor

Litigation, Medical Products & Devices, Commercial Bankruptcy, Products Liability

Status: In Good Standing

CONTACT

537 Riverside Dr, Clayton, NY 13624

Wallace Vancortlandt Auser

Criminal, Civil Rights, Collection, Household Mold

Status: In Good Standing Licensed: 49 Years

CONTACT

226 Oneida St, Fulton, NY 13069

Earl B. Dunckel

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 57 Years

CONTACT

5352 Summit Ave, Lowville, NY 13367

John T. Sullivan

Lawsuit, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

1 Seneca St W, Oswego, NY 13126

John Thomas Sullivan

Real Estate, Lawsuit & Dispute, Business, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

1 Seneca St W, Oswego, NY 13126

Donald A. Denton

Environmental Law Other, Elder Law, Bankruptcy, Personal Injury

Status: Inactive Licensed: 54 Years

CONTACT

1400 Mony Plz, Syracuse, NY 13202

David P Antonucci

Criminal, Civil Rights, Bankruptcy, Animal Bite, Class Action

Status: In Good Standing Licensed: 36 Years

CONTACT

12 Public Sq, Watertown, NY 13601

Steven C Haas

Real Estate, Litigation, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

215 Washington St, Watertown, NY 13601

800-923-0641

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

FCRA

See Fair Credit Reporting Act.

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.

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.

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Adams Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michelle Lynn Wolfenden

Erik Sobkiewicz

Rafferty Elizabeth Taylor

Wallace Vancortlandt Auser

Earl B. Dunckel

John T. Sullivan

John Thomas Sullivan

Donald A. Denton

David P Antonucci

Steven C Haas

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

PRESUMED ABUSE

FORBEARANCE

REDEMPTION

UNDUE HARDSHIP

DOING BUSINESS AS (DBA)

FCRA

MEANS TEST

SUBROGATION

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