Ardsley On Hudson Workout Lawyer, New York

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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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Nat Wasserstein

Business, Credit & Debt, Workout, Corporate

Status: In Good Standing Licensed: 30 Years

FREE CONSULTATION

CONTACT

328 North Broadway, Upper Nyack, NY 10960

Hyung Joon Stanley Lim

Banking & Finance, Credit & Debt, Workout, Lending

Status: In Good Standing

CONTACT

1 Crosfield Ave, West Nyack, NY 10994

R. Spencer Lauterbach

Corporate, Workout, Household Mold, Trusts

Status: In Good Standing

CONTACT

151 North Main Street, New City, NY 10956

William Paul Weintraub

Litigation, Workout, Reorganization, Credit & Debt

Status: In Good Standing Licensed: 44 Years

CONTACT

620 Eighth Avenue, New York, NY 10018

Rosalie Walker Walker Gray

Business Organization, Workout

Status: In Good Standing Licensed: 38 Years

CONTACT

885 3Rd Ave, New York, NY 10022

Michael E. Wiles

Litigation, Workout

Status: In Good Standing Licensed: 46 Years

CONTACT

919 3Rd Ave, New York, NY 10022

Robert J. Rosenberg

International Other, Business Organization, Workout

Status: In Good Standing Licensed: 53 Years

CONTACT

885 3rd Ave, New York, NY 10022

John F. Bricker

Banking & Finance, Workout

Status: In Good Standing Licensed: 44 Years

CONTACT

1114 Avenue Of The Americas, New York, NY 10036

Michael J. Rishty

Real Estate, Joint Ventures, Merger & Acquisition, Workout

Status: In Good Standing Licensed: 23 Years

CONTACT

200 Park Ave, New York, NY 10166

Richard Hunter Engman

Reorganization, Credit & Debt, Workout

Status: In Good Standing Licensed: 27 Years

CONTACT

222 E 41st St, New York, NY 10017

800-923-0641

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LEGAL TERMS

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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Ardsley On Hudson Workout Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Nat Wasserstein

Hyung Joon Stanley Lim

R. Spencer Lauterbach

William Paul Weintraub

Rosalie Walker Walker Gray

Michael E. Wiles

Robert J. Rosenberg

John F. Bricker

Michael J. Rishty

Richard Hunter Engman

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LEGAL TERMS

PREFERENCE

REPOSSESSION

WORKOUT

REAFFIRMATION

401(K) PLAN

ABUSE

FRATERNAL BENEFIT SOCIETY BENEFITS

UNDUE HARDSHIP

UNSECURED DEBT

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