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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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Stephen Francis Bailly

Other, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 46 Years

CONTACT

15 Valleyview Dr, Albany, NY 12208

Julie B. Solomon

Bankruptcy & Debt

Status:

CONTACT

151 Brandon Terrace, Albany, NY 12203

John M. Dubuc

Other, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: Licensed: 25 Years

CONTACT

1822 Western Ave, Albany, NY 12203

Conor Eric Brownell

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status:

CONTACT

1 Columbia Cir, Albany, NY 12203

Jerrold William Bartman

Bankruptcy

Status: Licensed: 31 Years

CONTACT

421 New Karner Rd, Albany, NY 12205

Robert Edward Hess

Real Estate, Government, Business, Bankruptcy & Debt

Status: Licensed: 32 Years

CONTACT

1 Wall St, Albany, NY 12205

Michael Andrew Yood

DUI-DWI, Criminal, Bankruptcy & Debt, Accident & Injury

Status: Licensed: 35 Years

CONTACT

26 Westlyn Ct, Albany, NY 12203

Erika Catherine Browne

Litigation, Civil Rights, Corporate, Commercial Bankruptcy

Status: Licensed: 19 Years

CONTACT

255 Washington Avenue Ext, Albany, NY 12205

Rudolph J. Meola

Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

1822 Western Ave, Albany, NY 12203

Michael Niels Bruno

Real Estate, Estate, Divorce & Family Law, Bankruptcy

Status:

CONTACT

52 Corporate Cir, Albany, NY 12203

800-814-6700

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LEGAL TERMS

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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Delanson Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Stephen Francis Bailly

Julie B. Solomon

John M. Dubuc

Conor Eric Brownell

Jerrold William Bartman

Robert Edward Hess

Michael Andrew Yood

Erika Catherine Browne

Rudolph J. Meola

Michael Niels Bruno

TIPS

LEGAL TERMS

DEBIT CARD

COLLATERAL

LIABILITY

REDEMPTION

HOUSEHOLDER

CREDIT INSURANCE

TRADE DRESS

C CORPORATION

GUARANTOR

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