Glencoe Collection Lawyer, Illinois

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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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David Bohrer

DUI-DWI, Civil Rights, Collection, Personal Injury

Status: In Good Standing Licensed: 39 Years

CONTACT

900 Skokie Blvd, Northbrook, IL 60062

David Bohrer

DUI-DWI, Civil Rights, Collection, Personal Injury

Status: In Good Standing Licensed: 39 Years

CONTACT

900 Skokie Blvd, Northbrook, IL 60062

Jennifer J. Gedville

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 25 Years

CONTACT

1849 Green Bay Rd, Highland Park, IL 60035

Jennifer Gedville

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 25 Years

CONTACT

1849 Green Bay Rd, Highland Park, IL 60035

Steven Shaw Potts

Civil Rights, Corporate, Collection, Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

2349 Walters Ave, Northbrook, IL 60062

Steven Lavin

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

1849 Green Bay Rd, Highland Park, IL 60035

Steven Howard Lavin

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

1849 Green Bay Rd, Highland Park, IL 60035

Alex Pirogovsky

Litigation, Collection, Divorce, Business

Status: In Good Standing Licensed: 27 Years

CONTACT

3000 Dundee Road, Northbrook, IL 60062

Alex Pirogovsky

Litigation, Collection, Divorce, Business

Status: In Good Standing Licensed: 27 Years

CONTACT

3000 Dundee Road, Northbrook, IL 60062

David Hancock Moon

Health Care Other, Government, Civil & Human Rights, Collection

Status: In Good Standing Licensed: 29 Years

CONTACT

707 Lake Cook Road, Chicago, IL 60614

800-923-0641

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LEGAL TERMS

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.

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.

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

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.

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Glencoe Collection Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Bohrer

David Bohrer

Jennifer J. Gedville

Jennifer Gedville

Steven Shaw Potts

Steven Lavin

Steven Howard Lavin

Alex Pirogovsky

Alex Pirogovsky

David Hancock Moon

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LEGAL TERMS

MEANS TEST

BULK SALES LAW

CREDIT INSURANCE

ABUSE

INTEREST

CREDIT COUNSELING

TRADE DRESS

COSIGNER

GUARANTOR

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