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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 R. Lecours

Real Estate, Criminal, Bankruptcy & Debt

Status: In Good Standing

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Gansevoort, NY 12831

Alex Colin Turnello

Workers' Compensation, Natural Resources, Construction, Personal Injury, Consumer Bankruptcy

Status: In Good Standing Licensed: 9 Years

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17 Heinrick St, Queensbury, NY 12804

Anne J. White

Bankruptcy & Debt

Status: In Good Standing

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48 Sugarbush Way, Schroon Lake, NY 12870

Antonin I. Z. Robbason

Construction, Litigation, Insurance, Collection

Status: In Good Standing

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511 Glen St, Glens Falls, NY 12801

Antonin I. Z. Robbason

Civil Rights, Bankruptcy

Status: In Good Standing

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511 Glen St, Glens Falls, NY 12801

Arnold B. Firestone

International, Employment Discrimination, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 65 Years

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39 Loughberry Lake Rd, Saratoga Springs, NY 12866

Brandi Burns

Real Estate, Estate, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

20 Church Ave, Ballston Spa, NY 12020

Chelsey Tulis Lester

Bankruptcy & Debt

Status: In Good Standing Licensed: 14 Years

CONTACT

60 Railroad Pl, Saratoga Springs, NY 12866

David F. Devall

Divorce & Family Law, Bankruptcy, Criminal, Litigation

Status: In Good Standing Licensed: 47 Years

FREE CONSULTATION

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59 Franklin Stret, Saratoga Springs, NY 12866

David Edward Rudgers

Real Estate, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

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15 Father Jogues Pl, Paradox, NY 12883

800-923-0641

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LEGAL TERMS

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

LIQUIDATING PARTNER

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

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.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

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Hampton Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Alan R. Lecours

Alex Colin Turnello

Anne J. White

Antonin I. Z. Robbason

Antonin I. Z. Robbason

Arnold B. Firestone

Brandi Burns

Chelsey Tulis Lester

David F. Devall

David Edward Rudgers

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LEGAL TERMS

CREDIT INSURANCE

PREFERENCE

AUTOMATIC STAY

SECURED DEBT

LIQUIDATING PARTNER

REDEMPTION

NO-FAULT INSURANCE

LIMITED LIABILITY

CYBERSQUATTING

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