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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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Immigration, Asylum, Deportation, Divorce, Bankruptcy

An Internationally Renowned Law Firm Based in New York. We handle immigration cases in the United States and all over the world.

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74-09, 37th Avenue, Suite 205,, Jackson Heights, NY 11372

Heather Lynn Gregg

Bankruptcy, Commercial Real Estate, Condominiums, Contract

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108-18 Queens Boulevard, Forest Hills, NY 11375

David Schachter

Business Organization, Collection, Banking & Finance, Bad Faith Insurance

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7409 37th Avenue, Jackson Heights, NY 11372

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Bankruptcy, Business Organization, Contract, Criminal

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1967 Turnbull Avenue, Bronx, NY 10473

Jacqueline Torchin Carey

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

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125-10 Queens Boulevard, Kew Gardens, NY 11415

Georgette Miller

Foreclosure, Social Security, Bankruptcy, Bankruptcy & Debt

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61-43 186th Street, Fresh Meadows, NY 11365

Nathan Erlich

Business & Trade, Corporate, Banking & Finance, Bankruptcy

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10818 Queens Blvd, Forest Hills, NY 11375

Mel Jacoby

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

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61-43 186 Street, Fresh Meadows, NY 11365

Mahfuzur Rahman

Immigration, Divorce & Family Law, Bankruptcy & Debt, Accident & Injury, Real Estate

Status: In Good Standing Licensed: 12 Years

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75-21 Broadway, Elmhurst, NY 11373

Rafael Ariel Poltielov

Foreclosure, Wills & Probate, Business, Bankruptcy

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11821 Queens Blvd, Forest Hills, NY 11375

800-923-0641

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LEGAL TERMS

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

TRADE NAME

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

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

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.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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Corona Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Gehi & Associates

Heather Lynn Gregg

David Schachter

William A. Tauber

Jacqueline Torchin Carey

Georgette Miller

Nathan Erlich

Mel Jacoby

Mahfuzur Rahman

Rafael Ariel Poltielov

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LEGAL TERMS

REAFFIRMATION

WINDING UP

TRADE NAME

FRAUDULENT TRANSFER

S CORPORATION

SECRET WARRANTY PROGRAM

MEETING OF CREDITORS

NUISANCE FEES

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

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