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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

James S Don

Administrative Law, Dispute Resolution, Bankruptcy, Corporate

Status: In Good Standing

CONTACT

380 North Broadway, Jericho, NY 11753

Michael Adam Shichman

Family Law, Collection, Commercial Bankruptcy

Status: In Good Standing Licensed: 42 Years

CONTACT

109 High Farms Rd, Glen Head, NY 11545

Dennis Steven Malen

General Practice

Status: In Good Standing Licensed: 56 Years

CONTACT

123 Frost St, Old Westbury, NY 11590

Mark Emmanuel Cohen

Commercial Real Estate, Real Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

675 Old Country Rd, Old Westbury, NY 11590

Mark Emmanuel Cohen

Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

675 Old Country Rd, Old Westbury, NY 11590

Kevin D Ribakove

Real Estate, Estate Planning, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 48 Years

CONTACT

25 Club House Ct, Jericho, NY 11753

Randy J. Schaefer

Corporate, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

None Listed, Jericho, NY 11753

Robert Donald Nosek

Litigation, Collection, Commercial Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Nathan Zelig Kaufman

Employee Rights, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Edward L. Kavanagh

General Practice

Status: In Good Standing

CONTACT

3 School St, Glen Cove, NY 11542

800-923-0641

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LEGAL TERMS

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.

CREDITOR

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

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

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.

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.

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.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

... Department. Decided April 1, 2008. Concur â€” Gonzalez, JP, Williams, Catterson and Moskowitz, JJ. On or about February 21, 2001, plaintiff filed a petition in the United States Bankruptcy Court for the District of New Jersey. Some ...

Insurance Co. v. HSBC BANK USA

... We are asked in this case to decide whether a Bankruptcy Court order allowing a creditor to seize a debtor's bank account is entitled to res judicata effect in a subsequent state proceeding alleging that a portion of the funds in the account were state tax proceeds that should not ...

White v. Mazella-White

... which was to vacate the aforesaid inquest be made part of this judgment; and it is further," and (3) by deleting the fifth decretal paragraph thereof awarding the defendant the principal sum of $85,000 in equitable distribution payable to the defendant's trustee in bankruptcy; as so ...

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Glen Head Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James S Don

Michael Adam Shichman

Dennis Steven Malen

Mark Emmanuel Cohen

Mark Emmanuel Cohen

Kevin D Ribakove

Randy J. Schaefer

Robert Donald Nosek

Nathan Zelig Kaufman

Edward L. Kavanagh

TIPS

LEGAL TERMS

NONPROFIT CORPORATION

CREDITOR

CREDIT INSURANCE

GUARANTOR

CREDIT BUREAU

GARNISHMENT

MEANS TEST

FRAUDULENT TRANSFER

COLLATERAL

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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