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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.
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Chukwudi M. Chigewe

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Immigration, Bankruptcy & Debt, Wills & Probate

Admission in NM; Immigration Matters Only in NY

Chukwudi M. Chigewe is a practicing lawyer in the state of New Mexico. Attorney Chigewe received his J.D. from the Thomas M. Cooley School of Law in 2... (more)

CONTACT

646-886-7995

94-04 218 Street, Queens Village, NY 11428

Andrew J. Luskin

Dispute Resolution, Franchising, Business Organization, Collection

Status: In Good Standing

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1010 Northern Blvd., Great Neck, NY 11021

Sean P. Lenihan

Bankruptcy, Family Law, Landlord-Tenant, Litigation

Status: In Good Standing

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1111 Marcus Avenue, New Hyde Park, NY 11042

Barbara Stegun Phair

Patent, Mental Health, Licensing, Collection

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Dorothy J. Santos

Bankruptcy, Estate Administration, Estate Planning

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Moriah Adamo

Bankruptcy, Estate Planning, Guardianships & Conservatorships, Litigation

Status: In Good Standing

CONTACT

3 Dakota Drive, Lake Success, NY 11042

Parshhueram T. Misir

Construction, Real Estate, Litigation, Bankruptcy

Status: In Good Standing

CONTACT

170 Old Country Road, Mineola, NY 11501

Alan Thomas Schmidlin

Collection, Condominiums, Conveyancing, Foreclosure

Status: In Good Standing

CONTACT

200 Garden City Plaza, Garden City, NY 11530

Charles Arthur Singer

Tax, Immigration, Estate, Corporate, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

11 Middle Neck Rd, Great Neck, NY 11021

Lara Pouratian Emouna

Real Estate, Bankruptcy & Debt, Business, Bankruptcy, Construction

Status: In Good Standing Licensed: 27 Years

CONTACT

36 S Station Plz, Great Neck, NY 11021

800-923-0641

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LEGAL TERMS

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

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.

CCCS

See Consumer Credit Counseling Service.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

FDCPA

See Fair Debt Collections & Practices Act.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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Great Neck Plaza Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Chukwudi M. Chigewe

Andrew J. Luskin

Sean P. Lenihan

Barbara Stegun Phair

Dorothy J. Santos

Moriah Adamo

Parshhueram T. Misir

Alan Thomas Schmidlin

Charles Arthur Singer

Lara Pouratian Emouna

TIPS

LEGAL TERMS

REDEMPTION

BULK SALES LAW

C CORPORATION

DISPOSABLE INCOME

FRAUDULENT TRANSFER

CCCS

LIEN

FDCPA

SUBROGATION

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