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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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Krista Gottlieb

Mediation, Arbitration, Employment Discrimination, Dissolution

Status: Licensed: 45 Years

CONTACT

43 Court Street, Buffalo, NY 14202

Patrick Matthew Tomovic

Landlord-Tenant, Wills & Probate, Divorce & Family Law, Bankruptcy

Status: Licensed: 35 Years

CONTACT

50 Fountain Plaza, Buffalo, NY 14202

Christine Marie Jurusik

Landlord-Tenant, Immigration, Child Support, Bankruptcy

Status: Licensed: 24 Years

CONTACT

140 Pearl St, Buffalo, NY 14202

Matthew Alan Parham

Litigation, State Appellate Practice, Native People, Consumer Bankruptcy

Status:

CONTACT

37 Franklin St, Buffalo, NY 14202

Paul Ira Perlman

Real Estate, Intellectual Property, Employment, Business, Consumer Bankruptcy

Status: Licensed: 45 Years

CONTACT

1800 One M&T Plaza, Buffalo, NY 14203

William Joseph Brown

Litigation, Business, Bankruptcy & Debt

Status: Licensed: 45 Years

CONTACT

125 Main St, Buffalo, NY 14203

John Patrick Gaughan

Insurance, Bankruptcy & Debt, Products Liability, Personal Injury

Status: Licensed: 24 Years

CONTACT

200 Delaware Ave, Buffalo, NY 14202

William Harold Baaki

Litigation, Commercial Bankruptcy

Status:

CONTACT

Buffalo, NY 14201

Steven William Klutkowski

Industry Specialties, Environmental Law, Business, Bankruptcy & Debt

Status: Licensed: 19 Years

CONTACT

701 Seneca St, Buffalo, NY 14210

Richard I. Leff

Divorce & Family Law, Criminal, Bankruptcy & Debt, Bankruptcy & Debt

Status:

CONTACT

705 Brisbane Building, Buffalo, NY 14203

800-814-6700

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LEGAL TERMS

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

LIQUIDATING PARTNER

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

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.

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.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

FCRA

See Fair Credit Reporting 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.

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Caneadea Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Krista Gottlieb

Patrick Matthew Tomovic

Christine Marie Jurusik

Matthew Alan Parham

Paul Ira Perlman

William Joseph Brown

John Patrick Gaughan

William Harold Baaki

Steven William Klutkowski

Richard I. Leff

TIPS

LEGAL TERMS

REDEMPTION

LIQUIDATING PARTNER

BULK SALES LAW

FRATERNAL BENEFIT SOCIETY BENEFITS

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

CREDIT INSURANCE

GUARANTEED RESERVATION

FCRA

SECURED DEBT

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