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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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Lewis Lesses Schwartz

Government, Bankruptcy

Status: In Good Standing Licensed: 29 Years

CONTACT

1231 Delaware Ave, Buffalo, NY 14209

Robert William Godwin

Immigration, Government, Wills & Probate, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

1234 Delaware Avenue, Buffalo, NY 14209

Richard Edmund Stanton

Land Use & Zoning, Health Care, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

415 Franklin St, Buffalo, NY 14202

David Brian Smith

Employee Rights, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 31 Years

CONTACT

475 Delaware Ave, Buffalo, NY 14202

Ethan Brendan Murphy

Employee Rights, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 9 Years

CONTACT

475 Delaware Ave, Buffalo, NY 14202

Michael J. Gallagher

Workers' Compensation, Constitutional Law, Insurance, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 40 Years

CONTACT

665 Main St, Buffalo, NY 14203

William Edward Lawson

Real Estate, Health Care, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 71 Years

CONTACT

730 Convention Tower, Buffalo, NY 14202

Amy J. Vigneron

Family Law, Child Custody, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

343 Elmwood Ave, Buffalo, NY 14222

Heidi I. Jones

Tax, Non-profit, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

115 Elmwood Ave, Buffalo, NY 14201

Jennifer A. Hurley

Real Estate, Lawsuit & Dispute, Child Support, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

390 Elmwood Ave, Buffalo, NY 14222

800-923-0641

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LEGAL TERMS

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

DISCHARGE (OF DEBTS)

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

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

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.

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.

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.

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Buffalo Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lewis Lesses Schwartz

Robert William Godwin

Richard Edmund Stanton

David Brian Smith

Ethan Brendan Murphy

Michael J. Gallagher

William Edward Lawson

Amy J. Vigneron

Heidi I. Jones

Jennifer A. Hurley

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LEGAL TERMS

SOLE PROPRIETORSHIP

DISCHARGE (OF DEBTS)

AUTOMATIC STAY

SUBROGATION

PRESUMED ABUSE

NUISANCE FEES

TOXIC TORT

GARNISHMENT

DEBIT CARD

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