Grand Gorge Bankruptcy & Debt Lawyer, New York, page 3

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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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Lawrence R. Schillinger

Licensing, Administrative Law, Collection, Alternative Energy, Cleanup & Superfund

Status: Licensed: 41 Years

CONTACT

Executive Woods, 5 Palisades Drive, Albany, NY 12205

Thomas Dennis Conole

Child Custody, Credit & Debt, Wrongful Death

Status: Licensed: 48 Years

CONTACT

40 Hawthorne Ave, Albany, NY 12203

Madeline H Kibrick Kauffman

Real Estate, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status:

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80 State St, Albany, NY 12207

John William Bailey

Lawsuit, Criminal, Bankruptcy, Accident & Injury

Status:

CONTACT

5 Pine West Plaza, Albany, NY 12205

Mark Dexter Glastetter

Real Estate, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status:

CONTACT

54 State St, Albany, NY 12207

John D. Rodgers

Lawsuit & Dispute, Contract, Business, Bankruptcy & Debt

Status: Licensed: 44 Years

CONTACT

8 Thurlow Ter, Albany, NY 12203

Justin Arthur Heller

Real Estate, Business, Collection

Status:

CONTACT

80 State St, Albany, NY 12207

Rudolph J. Meola

Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

1822 Western Ave, Albany, NY 12203

Robert Edward Hess

Real Estate, Government, Business, Bankruptcy & Debt

Status: Licensed: 32 Years

CONTACT

1 Wall St, Albany, NY 12205

Richard Dominic Cirincione

Traffic, Litigation, Estate, Banking & Finance, Bankruptcy

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Albany, NY 12201

800-923-0641

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LEGAL TERMS

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.

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.

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.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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Grand Gorge Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lawrence R. Schillinger

Thomas Dennis Conole

Madeline H Kibrick Kauffman

John William Bailey

Mark Dexter Glastetter

John D. Rodgers

Justin Arthur Heller

Rudolph J. Meola

Robert Edward Hess

Richard Dominic Cirincione

TIPS

LEGAL TERMS

UNSECURED DEBT

CREDIT BUREAU

DISPOSABLE INCOME

WORKOUT

SECURED DEBT

GRACE PERIOD

FRAUDULENT TRANSFER

LIQUIDATING PARTNER

LIABILITY

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