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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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Alexis Elizabeth Kim

Litigation, Contract, Bankruptcy, Personal Injury

Status: Licensed: 9 Years

CONTACT

200 Great Oaks Blvd, Albany, NY 12203

Anthony J Pietrafesa

Bankruptcy & Debt, Consumer Rights, Defect and Lemon Law, Deceptive Trade Practices, Landlord-Tenant

Status:

FREE CONSULTATION

CONTACT

1971 Western Av #181, Albany, NY 12203

Bruce Charles Bramley

Landlord-Tenant, Government, Criminal, Bankruptcy

Status: Licensed: 49 Years

CONTACT

230 Washington Avenue Ext, Albany, NY 12203

Christopher A. Priore

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

200 Great Oaks Blvd, Albany, NY 12203

Conor Eric Brownell

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status:

CONTACT

1 Columbia Cir, Albany, NY 12203

David M. Levine

Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 47 Years

CONTACT

Delmar, NY 12054

David Ellis Blabey

Bankruptcy & Debt

Status: Licensed: 57 Years

CONTACT

27 Wexford Rd, Delmar, NY 12054

Erika Catherine Browne

Litigation, Civil Rights, Corporate, Commercial Bankruptcy

Status: Licensed: 19 Years

CONTACT

255 Washington Avenue Ext, Albany, NY 12205

Erin F. Casey

Corporate, Insurance, Legal Malpractice, Real Estate, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

83 Bullock Road, Slingerlands, NY 12159

George Samuel King

Motor Vehicle, Bankruptcy, Immigration

Status: Licensed: 50 Years

CONTACT

Albany, NY 12205

800-814-6700

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LEGAL TERMS

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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.

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.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

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Dormansville Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Alexis Elizabeth Kim

Anthony J Pietrafesa

Bruce Charles Bramley

Christopher A. Priore

Conor Eric Brownell

David M. Levine

David Ellis Blabey

Erika Catherine Browne

Erin F. Casey

George Samuel King

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LEGAL TERMS

CHAPTER 7 BANKRUPTCY

AUTOMATIC STAY

BULK SALES LAW

GUARANTEED RESERVATION

WORKOUT

MEANS TEST

CYBERSQUATTING

DISPOSABLE INCOME

FRATERNAL BENEFIT SOCIETY BENEFITS

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