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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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Jason Lloyd Stern

General Practice

Status: In Good Standing Licensed: 30 Years

CONTACT

420 S Riverside Ave, Croton On Hudson, NY 10520

Bradley David Wank

Motor Vehicle, Litigation, Wills & Probate, Credit & Debt

Status: In Good Standing

CONTACT

20 Crescent Ln, Dobbs Ferry, NY 10522

Debra Palazzo

Landlord-Tenant, Trusts, DUI-DWI, Credit & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

317 Elwood Ave, Hawthorne, NY 10532

Robert Irving Rednick

Federal Appellate Practice, Credit & Debt, Commercial Real Estate

Status: Inactive Licensed: 67 Years

CONTACT

125 N Main St, Port Chester, NY 10573

Martin Sander Kaufman

Lawsuit & Dispute, Credit & Debt

Status: In Good Standing Licensed: 59 Years

CONTACT

322 Heathcote Rd, Scarsdale, NY 10583

Laura Ann Daniels

Government, Divorce & Family Law, Misdemeanor, Credit & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

2 Overhill Rd, Scarsdale, NY 10583

Emily Pietromonaco Kahn

International, Estate, Divorce & Family Law, Credit & Debt

Status: In Good Standing

CONTACT

1133 Westchester Ave, West Harrison, NY 10604

Keyi Xu

Patent, Federal, Credit & Debt, Car Accident

Status: In Good Standing Licensed: 7 Years

CONTACT

One Barker Ave, White Plains, NY 10601

Gerard P. Brady

Construction, Real Estate, Banking & Finance, Credit & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

11 Martine Avenue, White Plains, NY 10606

James Robert Haffner

Status: In Good Standing Licensed: 10 Years

CONTACT

140 Grand St, White Plains, NY 10601

800-923-0641

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LEGAL TERMS

DISCHARGE (OF DEBTS)

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

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

TRADE NAME

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

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

... Such a system is not tolerable in regard to credit card and other consumer credit debt cases where items such as the interest rate, late payment charge, and over-the-limit fees may change several times over the course of the consumer credit agreement. ...

Grasso v. Grasso

... 765 The husband also correctly contends that the Supreme Court improvidently exercised its discretion by, in effect, holding him responsible for 100% of the credit card obligations that constitute the parties' marital debt as well as all the marital debt that was solely in the wife's ...

PRA III LLC v. Gonzalez

... agreement to extend credit to the defendant, the issuance of credit cards at the defendant's address, his use of credit cards, his ... Moreover, the plaintiff submitted no evidence demonstrating the defendant's intention to pay the alleged debt (see General Obligations Law Â§ 17-101 ...

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Armonk Credit & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jason Lloyd Stern

Bradley David Wank

Debra Palazzo

Robert Irving Rednick

Martin Sander Kaufman

Laura Ann Daniels

Emily Pietromonaco Kahn

Keyi Xu

Gerard P. Brady

James Robert Haffner

TIPS

LEGAL TERMS

DISCHARGE (OF DEBTS)

DEBIT CARD

TOXIC TORT

TRADE NAME

MEANS TEST

BULK SALES LAW

DEFINED CONTRIBUTION PLAN

S CORPORATION

GARNISHMENT

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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