East Setauket 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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Aida Saba Cavooris

Civil Rights, International Tax, Bankruptcy, Contract, Personal Injury

Status: In Good Standing Licensed: 24 Years

CONTACT

100 S Jersey Ave, East Setauket, NY 11733

Melissa Corwin

Real Estate, Bankruptcy & Debt, Wrongful Death, Accident & Injury

Status: In Good Standing Licensed: 22 Years

CONTACT

East Setauket, NY 11733

Anneris Marlene Pena

Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

East Setauket, NY 11733

James Peter Deana

Other, Real Estate, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 23 Years

CONTACT

47 Route 25A, East Setauket, NY 11733

Kenneth Alan Jacoppi

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 59 Years

CONTACT

23 Woodhull Rd, East Setauket, NY 11733

Kenneth Alan Jacoppi

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 59 Years

CONTACT

23 Woodhull Rd, East Setauket, NY 11733

Kevin Alan Seaman

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

Stony Brook, NY 11790

Charles Joseph Fisher

Real Estate, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1031 Main St, Port Jefferson, NY 11777

Rosemarie Bruno

Lawsuit & Dispute, Divorce & Family Law, Bankruptcy

Status: In Good Standing

CONTACT

3771 Nesconset Hwy, Centereach, NY 11720

Maria Christine Ambrosio

Immigration, Family Law, Consumer Rights, Collection

Status: In Good Standing Licensed: 38 Years

CONTACT

21 Annandale Rd, Stony Brook, NY 11790

800-923-0641

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LEGAL TERMS

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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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East Setauket Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Aida Saba Cavooris

Melissa Corwin

Anneris Marlene Pena

James Peter Deana

Kenneth Alan Jacoppi

Kenneth Alan Jacoppi

Kevin Alan Seaman

Charles Joseph Fisher

Rosemarie Bruno

Maria Christine Ambrosio

TIPS

LEGAL TERMS

CREDITOR

MEETING OF CREDITORS

TOXIC TORT

COSIGNER

GUARANTOR

UNSECURED DEBT

SETOFF

PRESUMED ABUSE

NONPROFIT CORPORATION

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