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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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Elliot Scott Schlissel

✓ VERIFIED

Divorce & Family Law, Criminal, Real Estate, Wills & Probate, Bankruptcy & Debt

I am available to help my clients 7 days a week.

The Law Offices of Schlissel DeCorpo is composed of attorneys and paralegals who are caring, dedicated professionals contributing experience and exper... (more)

FREE CONSULTATION

CONTACT

800-718-3171

479 Merrick Rd, Lynbrook, NY 11563

Gregory S. Lisi

Lawsuit & Dispute, Employee Rights, Employment, Administrative Law, Collection

Status: In Good Standing

FREE CONSULTATION

CONTACT

333 Earle Ovington Blvd, Uniondale, NY 11553

Ira A. Cohen

Commercial Real Estate, Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 58 Years

CONTACT

Baldwin, NY 11510

Ronald D. Reid

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 29 Years

CONTACT

2425 Grand Ave, Baldwin, NY 11510

James Martin Gallagher

Consumer Bankruptcy, Wills & Probate, Personal Injury, Real Estate

Status: In Good Standing Licensed: 44 Years

CONTACT

2249 Derby Road (At Sunrise Highway), Baldwin, NY 11510

John E. Molinari

Other, Industry Specialties, Business, Bankruptcy & Debt

Status: Inactive Licensed: 52 Years

CONTACT

148 S Long Beach Ave, Freeport, NY 11520

Brian Fraser Sharpe

Lawsuit & Dispute, International, Immigration, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

148 S Long Beach Ave, Freeport, NY 11520

Stanley J. Goldberg

Credit & Debt

Status: In Good Standing Licensed: 63 Years

CONTACT

30 S Ocean Ave, Freeport, NY 11520

Howard H. Stein

Real Estate, Industry Specialties, Bankruptcy & Debt

Status: In Good Standing

CONTACT

334 Princeton Rd, Rockville Centre, NY 11570

Lawrence Stuart Lefkowitz

Divorce & Family Law, Bankruptcy, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 27 Years

CONTACT

72 Guy Lombardo Ave, Freeport, NY 11520

800-923-0641

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LEGAL TERMS

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.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

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.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

FCRA

See Fair Credit Reporting Act.

CCCS

See Consumer Credit Counseling Service.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

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Baldwin Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Elliot Scott Schlissel

Gregory S. Lisi

Ira A. Cohen

Ronald D. Reid

James Martin Gallagher

John E. Molinari

Brian Fraser Sharpe

Stanley J. Goldberg

Howard H. Stein

Lawrence Stuart Lefkowitz

TIPS

LEGAL TERMS

REPOSSESSION

GUARANTOR

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

C CORPORATION

ACCORD AND SATISFACTION

FCRA

CCCS

MEETING OF CREDITORS

INTEREST

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