Deansboro Bankruptcy & Debt Lawyer, New York

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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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Michael James Laucello

Social Security -- Disability, Divorce, Bankruptcy, Personal Injury, Divorce & Family Law

Status: In Good Standing Licensed: 46 Years

CONTACT

40 Chenango Avenue, Clinton, NY 13323

Edward Dunscomb Earl

Employment, Bankruptcy & Debt

Status: In Good Standing

CONTACT

46 N Park Row, Clinton, NY 13323

Bartle J. Gorman

Industry Specialties, Civil & Human Rights, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 58 Years

CONTACT

150 Genesee St, New Hartford, NY 13413

Justin Michael Nackley

Wills & Probate, Wrongful Termination, Workers' Compensation, Collection

Status: In Good Standing

CONTACT

23 Oxford Rd, New Hartford, NY 13413

G Kevin Ludlow

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 35 Years

CONTACT

Sauquoit, NY 13456

Joseph Pennisi Giruzzi

International Tax, Estate, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 33 Years

CONTACT

122 Business Park Dr, Utica, NY 13502

Richard Edward Kaplan

Other, Lawsuit & Dispute, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

2626 Sunset Ave, Utica, NY 13502

Ann W. Manion

Real Estate, Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

CONTACT

2106 Genesee St, Utica, NY 13502

Peter Michael Hobaica

Estate, Criminal, Bankruptcy, Accident & Injury, Personal Injury

Status: In Good Standing Licensed: 40 Years

CONTACT

2045 Genesee St, Utica, NY 13501

Michael N. Kalil

Family Law, Business Organization, Banking & Finance, Collection, Child Custody

Status: In Good Standing Licensed: 38 Years

CONTACT

1602 Sunset Ave, Utica, NY 13502

800-923-0641

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LEGAL TERMS

FCRA

See Fair Credit Reporting Act.

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.

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.

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.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

DISCHARGE (OF DEBTS)

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

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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Deansboro Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael James Laucello

Edward Dunscomb Earl

Bartle J. Gorman

Justin Michael Nackley

G Kevin Ludlow

Joseph Pennisi Giruzzi

Richard Edward Kaplan

Ann W. Manion

Peter Michael Hobaica

Michael N. Kalil

TIPS

LEGAL TERMS

FCRA

FRAUDULENT TRANSFER

REDEMPTION

LIMITED PARTNERSHIP

WINDING UP

DEBIT CARD

COLLATERAL

DISCHARGE (OF DEBTS)

NONPROFIT CORPORATION

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