Floral Park Bankruptcy & Debt Lawyer, New York, page 2

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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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Simon Benjamin Landsberg

Lawsuit & Dispute, Business, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 19 Years

CONTACT

299 Jericho Tpke, Floral Park, NY 11001

Gerard Michael Bambrick

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

318 Carnation Ave, Floral Park, NY 11001

Donna Lynn Denton

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

813 Jericho Tpke, New Hyde Park, NY 11040

Thomas M. John

DUI-DWI, Elder Law, Banking & Finance, Bankruptcy & Debt

Status: In Good Standing

CONTACT

27113 77Th Ave, New Hyde Park, NY 11040

Rashel M. Mehlman

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Michael Adam Schwartz

Real Estate, Employment, Business, Bankruptcy

Status: In Good Standing Licensed: 32 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Glenn Stuart Garbus

Collection, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Scott Charles Sharinn

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

Status: In Good Standing Licensed: 13 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

John Lehr

Bankruptcy, Foreclosure

Status: In Good Standing Licensed: 19 Years

FREE CONSULTATION

CONTACT

1979 Marcus Avenue, New Hyde Park, NY 11042

Young Yoo

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

813 Jericho Tpke, New Hyde Park, NY 11040

800-923-0641

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800-943-8690

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LEGAL TERMS

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

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.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

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.

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.

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.

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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Floral Park Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Simon Benjamin Landsberg

Gerard Michael Bambrick

Donna Lynn Denton

Thomas M. John

Rashel M. Mehlman

Michael Adam Schwartz

Glenn Stuart Garbus

Scott Charles Sharinn

John Lehr

Young Yoo

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LEGAL TERMS

REAFFIRMATION

GUARANTOR

CHAPTER 7 BANKRUPTCY

INFRINGEMENT (OF TRADEMARK)

GARNISHMENT

ADMINISTRATIVE EXPENSES

WORKOUT

DISPOSABLE INCOME

NONPROFIT CORPORATION

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