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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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Jerry Merola

Tax, Bankruptcy & Debt, Criminal, Business

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FREE CONSULTATION

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91 N. Franklin Street, Hempstead, NY 11550

Howard D. Weisinger

Real Estate, Criminal, Bankruptcy, Bankruptcy & Debt, Industry Specialties

Status: Licensed: 37 Years

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393 Old Country Rd, Carle Place, NY 11514

Scott Adam Steinberg

Commercial Real Estate, Corporate, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 41 Years

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190 Willis Ave, Mineola, NY 11501

James Pennington Truitt

Commercial Real Estate, Commercial Leasing, Commercial Insurance, Collection, Real Estate

Status: Licensed: 24 Years

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300 Garden City Plaza, Garden City, NY 11530

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

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1122 Franklin Ave, Garden City, NY 11530

Robert David Aronin

Business & Trade, Commercial Bankruptcy, Litigation

Status: Licensed: 36 Years

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100 Garden City Plaza, Garden City, NY 11530

Amanda Rose Lamberson

Litigation, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

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400 Garden City Plaza, Garden City, NY 11530

Arnold M. Bottalico

Foreclosure, Mass Torts, Insurance, Bankruptcy, Personal Injury

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1225 Franklin Ave, Garden City, NY 11530

Jacqueline M. Della Chiesa

Bankruptcy & Debt, Foreclosure, Credit & Debt, Litigation

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401 Franklin Avenue, Garden City, NY 11530

Bradley T. Slover

Corporate, Contract, Business Organization, Collection

Status: Licensed: 16 Years

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173 School St, Old Westbury, NY 11590

800-814-6700

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LEGAL TERMS

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

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.

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.

CCCS

See Consumer Credit Counseling Service.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

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Albertson Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jerry Merola

Howard D. Weisinger

Scott Adam Steinberg

James Pennington Truitt

Mary Ann Catalano

Robert David Aronin

Amanda Rose Lamberson

Arnold M. Bottalico

Jacqueline M. Della Chiesa

Bradley T. Slover

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LEGAL TERMS

TRADE NAME

GRACE PERIOD

C CORPORATION

CHAPTER 7 BANKRUPTCY

DISPOSABLE INCOME

FAIR LABOR STANDARDS ACT (FLSA)

SECRET WARRANTY PROGRAM

CCCS

LIMITED LIABILITY

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