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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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Debra Lobello Burhans

International, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 42 Years

CONTACT

4961 Ford Rd, Elba, NY 14058

Theron Edwin Howard

Foreclosure, State Government, Estate Planning, Banking & Finance, Collection

Status: Licensed: 48 Years

CONTACT

15 Clay St, Le Roy, NY 14482

Thomas Francis Turturo

Estate, Criminal, Bankruptcy & Debt

Status: Licensed: 15 Years

CONTACT

5130 E Main Street Rd, Batavia, NY 14020

David Leigh Metzler

Traffic, Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 53 Years

CONTACT

104 Bank St, Batavia, NY 14020

Frederick Matthew Rarick

Criminal, Bankruptcy

Status: Licensed: 41 Years

CONTACT

39 Ellicott St, Batavia, NY 14020

Barry Christopher Balonek

Family Law, Constitutional Law, Corporate, Credit & Debt

Status: Licensed: 49 Years

CONTACT

38 Wilelen Rd, Rochester, NY 14624

Audrey M. Farber

Foreclosure, Litigation, Election & Political, Transactions, Bankruptcy

Status: Licensed: 39 Years

CONTACT

175 Mile Crossing Blvd, Rochester, NY 14624

Ellis Michael Oster

Other, Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 18 Years

CONTACT

175 Mile Crossing Blvd, Rochester, NY 14624

Charles Conrad Welch

Bankruptcy

Status: Licensed: 29 Years

CONTACT

1722 Lake Rd, Hamlin, NY 14464

Kenneth Charles Keller

Bankruptcy & Debt

Status: Licensed: 44 Years

CONTACT

47 Loyalist Ave, Rochester, NY 14624

800-814-6700

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LEGAL TERMS

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

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.

TRADE NAME

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

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Bergen Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Debra Lobello Burhans

Theron Edwin Howard

Thomas Francis Turturo

David Leigh Metzler

Frederick Matthew Rarick

Barry Christopher Balonek

Audrey M. Farber

Ellis Michael Oster

Charles Conrad Welch

Kenneth Charles Keller

TIPS

LEGAL TERMS

INTEREST

LIQUIDATING PARTNER

C CORPORATION

BANKRUPTCY TRUSTEE

ADMINISTRATIVE EXPENSES

CHAPTER 7 BANKRUPTCY

GENERAL PARTNER

GARNISHMENT

TRADE NAME

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