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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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John Peter Amershadian

Real Estate, Banking & Finance, Business, Credit & Debt

Status: In Good Standing Licensed: 48 Years

CONTACT

140 Pearl St, Buffalo, NY 14202

Benjamin David Burge

Estate Planning, Credit & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

424 Main St, Buffalo, NY 14202

Maximillian G. Tresmond

General Practice

Status: In Good Standing Licensed: 9 Years

CONTACT

424 Main St, Buffalo, NY 14202

Thomas E. Hare

Credit & Debt, Family Law, Criminal, Bankruptcy

Status: In Good Standing

CONTACT

418 Obrian Hall, Buffalo, NY 14260

Brian R. Goodwin

Commercial Banks, Commercial Real Estate, Credit & Debt, Motor Vehicle, Collection

Status: In Good Standing Licensed: 21 Years

CONTACT

97 Virginia Road, Buffalo, NY 14225

Bruce Devoin Mcallister

Workers' Compensation, Corporate, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 45 Years

CONTACT

30 Eagle St, Buffalo, NY 14221

Bruce D. Mcallister

Workers' Compensation, Corporate, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 45 Years

CONTACT

30 Eagle St, Buffalo, NY 14221

Todd Alan Morth

Consumer Bankruptcy, Credit & Debt, Bankruptcy Litigation

Status: In Good Standing Licensed: 26 Years

CONTACT

336 Harris Hill Rd, Buffalo, NY 14221

Peter David Grubea

Bankruptcy & Debt, Consumer Bankruptcy, Credit & Debt

Status: In Good Standing Licensed: 31 Years

FREE CONSULTATION

CONTACT

336 Harris Hill Rd, Buffalo, NY 14221

Lisa Ann Kurbiel

Divorce & Family Law, Credit & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

240 Selkirk Dr, Lockport, NY 14120

800-923-0641

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LEGAL TERMS

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

CREDIT FILE

See credit report.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

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.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

... Such a system is not tolerable in regard to credit card and other consumer credit debt cases where items such as the interest rate, late payment charge, and over-the-limit fees may change several times over the course of the consumer credit agreement. ...

Grasso v. Grasso

... 765 The husband also correctly contends that the Supreme Court improvidently exercised its discretion by, in effect, holding him responsible for 100% of the credit card obligations that constitute the parties' marital debt as well as all the marital debt that was solely in the wife's ...

PRA III LLC v. Gonzalez

... agreement to extend credit to the defendant, the issuance of credit cards at the defendant's address, his use of credit cards, his ... Moreover, the plaintiff submitted no evidence demonstrating the defendant's intention to pay the alleged debt (see General Obligations Law Â§ 17-101 ...

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Corfu Credit & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Peter Amershadian

Benjamin David Burge

Maximillian G. Tresmond

Thomas E. Hare

Brian R. Goodwin

Bruce Devoin Mcallister

Bruce D. Mcallister

Todd Alan Morth

Peter David Grubea

Lisa Ann Kurbiel

TIPS

LEGAL TERMS

CREDIT COUNSELING

LIEN

CREDIT FILE

PRIORITY DEBT

FRAUDULENT TRANSFER

CREDIT INSURANCE

CREDITOR

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

NO-FAULT INSURANCE

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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