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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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Alan Michael Schlissel

Estate, Business, Bankruptcy & Debt

Status: Licensed: 28 Years

CONTACT

85 W Main St, Bay Shore, NY 11706

Karen Marie Sheehan

Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Lisa Kim Gordon

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 31 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Raymond Charles Baierlein

Commercial Real Estate, Litigation, Criminal, Bankruptcy & Debt

Status: Licensed: 28 Years

CONTACT

85 W Main St, Bay Shore, NY 11706

Shawn A. Spielberg

Other, Traffic, Government, Bankruptcy

Status: Licensed: 16 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Nathalie C Rodriguez

Commercial Real Estate, Immigration, Bankruptcy

Status: Licensed: 9 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Yvonne Lee Randazzo

Litigation, Divorce, DUI-DWI, Bankruptcy

Status: Licensed: 28 Years

CONTACT

120 4Th Ave, Bay Shore, NY 11706

Brian M. Martin

Bankruptcy

Status: Licensed: 19 Years

CONTACT

1650 Sycamore Ave, Bohemia, NY 11716

Ronald A. Farr

Divorce & Family Law, Criminal, Business, Bankruptcy & Debt

Status: Licensed: 56 Years

CONTACT

3100 Veterans Memorial Hwy, Bohemia, NY 11716

Brian David Bass

Criminal, Business, Bankruptcy & Debt, Accident & Injury

Status: Licensed: 35 Years

CONTACT

3100 Veterans Memorial Hwy, Bohemia, NY 11716

800-814-6700

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LEGAL TERMS

FCRA

See Fair Credit Reporting Act.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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).

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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.

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Great River Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Alan Michael Schlissel

Karen Marie Sheehan

Lisa Kim Gordon

Raymond Charles Baierlein

Shawn A. Spielberg

Nathalie C Rodriguez

Yvonne Lee Randazzo

Brian M. Martin

Ronald A. Farr

Brian David Bass

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LEGAL TERMS

FCRA

S CORPORATION

FAIR LABOR STANDARDS ACT (FLSA)

401(K) PLAN

LOSS DAMAGE WAIVER (LDW)

LIEN

NONDISCHARGEABLE DEBTS

GUARANTOR

DISPOSABLE INCOME

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