East Williamson 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 J. Kieffer

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

Status: In Good Standing Licensed: 49 Years

CONTACT

40 Blackwatch Trl, Fairport, NY 14450

Vanessa Hanks

Immigration, Contract, Credit & Debt, Collection

Status: In Good Standing

FREE CONSULTATION

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Farmington, NY 14425

Roy Graham Franks

Foreclosure, Employment, Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

77 Water St, Lyons, NY 14489

John Francis Mckeown

Social Security, DUI-DWI, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 40 Years

CONTACT

53 Assembly Dr, Mendon, NY 14506

Michael D Calarco

Trusts, Estate, Collection, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

605 Mason St, Newark, NY 14513

Leo Paul Kehoe

Real Estate, Lawsuit & Dispute, Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 63 Years

CONTACT

6624 Briscoe Cove, North Rose, NY 14516

Jennifer Lee Montante Vigneri

Wills, Estate Planning, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 19 Years

CONTACT

1828 Penfield Rd, Penfield, NY 14526

Jennifer Lee Montante

General Practice

Status: In Good Standing

CONTACT

1828 Penfield Rd, Penfield, NY 14526

David M. Kaplan

Commercial Banks, Collection, Class Action, Bankruptcy

Status: In Good Standing

CONTACT

46 Helmsford Way, Penfield, NY 14526

Robert Dahl Schultz

Landlord-Tenant, Real Estate, Divorce & Family Law, Credit & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

1080 Pittsford Victor Rd, Pittsford, NY 14534

800-923-0641

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LEGAL TERMS

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.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

DISCHARGE (OF DEBTS)

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

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

East Williamson Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael J. Kieffer

Vanessa Hanks

Roy Graham Franks

John Francis Mckeown

Michael D Calarco

Leo Paul Kehoe

Jennifer Lee Montante Vigneri

Jennifer Lee Montante

David M. Kaplan

Robert Dahl Schultz

TIPS

LEGAL TERMS

FRAUDULENT TRANSFER

CREDIT BUREAU

ADMINISTRATIVE EXPENSES

CHAPTER 13 BANKRUPTCY

COLLATERAL

MEETING OF CREDITORS

DISCHARGE (OF DEBTS)

S CORPORATION

FCBA

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