Highland Collection Lawyer, New York

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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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Brett Anders Colbert

Civil Rights, Banking & Finance, Collection, Personal Injury, Corporate

Status: Licensed: 14 Years

CONTACT

2 Jefferson Plaza, Poughkeepsie, NY 12601

Christina Ida Tomaselli

Collection

Status: Licensed: 14 Years

CONTACT

2 Summit Ct, Fishkill, NY 12524

Daniel Gartenstein

Collection

Status: Licensed: 33 Years

CONTACT

Kingston, NY 12402

Dannielle Cole O'Toole

Income Tax, Employee Rights, Banking & Finance, Collection

Status: Licensed: 10 Years

CONTACT

110 Main St, Poughkeepsie, NY 12601

Leslie Andrews

Real Estate, Social Security, Permits, Collection

Status: Licensed: 32 Years

CONTACT

4 Pray Ln, Lagrangeville, NY 12540

Mark Lawrence Schuh

Accident & Injury, Collection, Litigation, Personal Injury

Status:

CONTACT

P.O. Box 1479, Newburgh, NY 12551

Matthew David Hindin

Consumer Rights, Business, Collection

Status: Licensed: 18 Years

CONTACT

2 Summit Ct, Fishkill, NY 12524

Natasha Marie Turner

Divorce & Family Law, Misdemeanor, Criminal, Collection

Status: Licensed: 19 Years

CONTACT

1662 Route 300, Newburgh, NY 12550

Richard Schisano

Bankruptcy, Business Organization, Collection, Commercial Leasing

Status: Licensed: 45 Years

CONTACT

717 Broadway, Newburgh, NY 12550

Richard A. Russell

Litigation, Collection, Consumer Bankruptcy

Status: Licensed: 39 Years

CONTACT

Plattekill, NY 12568

800-814-6700

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LEGAL TERMS

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.

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.

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.

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.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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Highland Collection Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Brett Anders Colbert

Christina Ida Tomaselli

Daniel Gartenstein

Dannielle Cole O'Toole

Leslie Andrews

Mark Lawrence Schuh

Matthew David Hindin

Natasha Marie Turner

Richard Schisano

Richard A. Russell

TIPS

LEGAL TERMS

LIABILITY

PREFERENCE

WORKOUT

401(K) PLAN

MEETING OF CREDITORS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

GARNISHMENT

COLLATERAL

C CORPORATION

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