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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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James M. Chesloe

Family Law, Divorce, Bankruptcy, Credit & Debt

Status: In Good Standing

FREE CONSULTATION

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1030 South La Grange Road, La Grange, IL 60525

David Koch

DUI-DWI, Estate Planning, Divorce, Bankruptcy, Dispute Resolution

Status: In Good Standing

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5947 West 35Th Street, Cicero, IL 60804

David P. Lloyd

Landlord-Tenant, Litigation, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

9244 Washington St, Brookfield, IL 60513

David Owen Koch

DUI-DWI, Estate Planning, Divorce, Bankruptcy, Dispute Resolution

Status: In Good Standing

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5947 West 35Th Street, Cicero, IL 60804

Lillian G. Gonzalez

Landlord-Tenant, Divorce & Family Law, Criminal, Collection

Status: In Good Standing Licensed: 17 Years

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8553 W. Ogden, Lyons, IL 60534

Jeffrey Scott Harris

Real Estate, Litigation, Divorce & Family Law, Bankruptcy & Debt, Personal Injury

Status: In Good Standing

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1701 S. First Ave, Maywood, IL 60153

Elizabeth C. Simon

Employee Rights, Civil Rights, Credit & Debt, Household Mold

Status: In Good Standing Licensed: 41 Years

CONTACT

234 Franklin Ave, River Forest, IL 60305

Craig Smith

Commercial Real Estate, Litigation, Civil Rights, Collection

Status: In Good Standing Licensed: 28 Years

CONTACT

1011 Lake St, Oak Park, IL 60301

Michelle Diane Orton Loftus

Commercial Real Estate, Wills & Probate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

311 South Blvd., Oak Park, IL 60302

Lawrence Drumm

Litigation, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 29 Years

CONTACT

177 N. Humphrey Ave., Oak Park, IL 60302

800-923-0641

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LEGAL TERMS

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

FCBA

See Fair Credit Billing Act.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

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.

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.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

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.

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Berwyn Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James M. Chesloe

David Koch

David P. Lloyd

David Owen Koch

Lillian G. Gonzalez

Jeffrey Scott Harris

Elizabeth C. Simon

Craig Smith

Michelle Diane Orton Loftus

Lawrence Drumm

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LEGAL TERMS

COLLECTION AGENCY

FCBA

SECURED DEBT

DOING BUSINESS AS (DBA)

NUISANCE FEES

C CORPORATION

PREFERENCE

FORBEARANCE

FRATERNAL BENEFIT SOCIETY BENEFITS

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