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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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David Ian Pankin

Workout, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

48 Willoughby St, MetroTech, Brooklyn, NY 11201

Michael E. Wiles

Litigation, Workout

Status: In Good Standing Licensed: 46 Years

CONTACT

919 3Rd Ave, New York, NY 10022

George Arthur Davis

Litigation, Business, Workout, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

885 3Rd Ave, New York, NY 10022

Robert J. Rosenberg

International Other, Business Organization, Workout

Status: In Good Standing Licensed: 54 Years

CONTACT

885 3rd Ave, New York, NY 10022

Rosalie Walker Walker Gray

Business Organization, Workout

Status: In Good Standing Licensed: 38 Years

CONTACT

885 3Rd Ave, New York, NY 10022

Scott L. Hazan

Litigation, Trusts, Workout, Credit & Debt

Status: In Good Standing

CONTACT

780 3Rd Ave, New York, NY 10017

Richard Hunter Engman

Reorganization, Credit & Debt, Workout

Status: In Good Standing Licensed: 27 Years

CONTACT

222 E 41st St, New York, NY 10017

Michael J. Rishty

Real Estate, Joint Ventures, Merger & Acquisition, Workout

Status: In Good Standing Licensed: 23 Years

CONTACT

200 Park Ave, New York, NY 10166

Ronald Joseph Silverman

Litigation, International, Workout, Commercial Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

390 Madison Ave, New York, NY 10017

Margot Beth Schonholtz

Litigation, Disability, Workout, Commercial Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

1290 Avenue Of The Americas, New York, NY 10104

800-923-0641

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800-943-8690

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LEGAL TERMS

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

FCRA

See Fair Credit Reporting Act.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

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Corona Workout Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Ian Pankin

Michael E. Wiles

George Arthur Davis

Robert J. Rosenberg

Rosalie Walker Walker Gray

Scott L. Hazan

Richard Hunter Engman

Michael J. Rishty

Ronald Joseph Silverman

Margot Beth Schonholtz

TIPS

LEGAL TERMS

LIMITED PARTNERSHIP

FAIR CREDIT REPORTING ACT (FCRA)

GARNISHMENT

MEANS TEST

401(K) PLAN

TRUTH IN LENDING ACT (TILA)

ABUSE

FCRA

FAIR LABOR STANDARDS ACT (FLSA)

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