Dobbs Ferry Workout 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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R. Spencer Lauterbach

Corporate, Workout, Household Mold, Trusts

Status: In Good Standing

CONTACT

151 North Main Street, New City, NY 10956

John J. Rapisardi

Litigation, Industry Specialties, Workout, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

7 Times Square, New York, NY 10036

Thomas Carter White

Litigation, Workout

Status: In Good Standing Licensed: 11 Years

CONTACT

1221 Avenue Of The Americas, New York, NY 10020

George Robertson Howard

Litigation, Workout, Reorganization, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

1114 Avenue Of The Americas, New York, NY 10036

Antonia Golianopoulos

Workers' Compensation, Workout, Bankruptcy & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

1221 Avenue Of The Americas, New York, NY 10020

George Robertson Howard

Litigation, Workout, Reorganization, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

1114 Avenue Of The Americas, New York, NY 10036

Ronald Joseph Silverman

Litigation, International, Workout, Commercial Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

390 Madison Ave, New York, NY 10017

George Arthur Davis

Litigation, Business, Workout, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

885 3Rd Ave, New York, NY 10022

Benjamin Hoch

Business, Workout, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

1301 Avenue Of The Americas, New York, NY 10019

Robert J. Rosenberg

International Other, Business Organization, Workout

Status: In Good Standing Licensed: 54 Years

CONTACT

885 3rd Ave, New York, NY 10022

800-923-0641

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800-943-8690

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LEGAL TERMS

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

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.

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.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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Dobbs Ferry Workout Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

R. Spencer Lauterbach

John J. Rapisardi

Thomas Carter White

George Robertson Howard

Antonia Golianopoulos

George Robertson Howard

Ronald Joseph Silverman

George Arthur Davis

Benjamin Hoch

Robert J. Rosenberg

TIPS

LEGAL TERMS

NONDISCHARGEABLE DEBTS

FAIR LABOR STANDARDS ACT (FLSA)

SUBROGATION

FRAUDULENT TRANSFER

GRACE PERIOD

LIABILITY

NONPROFIT CORPORATION

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

WORKOUT

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