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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Neil Eric Weissman

Landlord-Tenant, Divorce & Family Law, DUI-DWI, Bankruptcy

Status: In Good Standing

CONTACT

233 Wall St, Huntington, NY 11743

Carl Thomas Grasso

Commercial Real Estate, Litigation, Insurance, Commercial Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

24 Brookhill Ln, Huntington, NY 11743

Alexandros Tsionis

Foreclosure, Lending, Credit & Debt, Bankruptcy

Status: In Good Standing Licensed: 8 Years

CONTACT

38 New St, Huntington, NY 11743

Kelly Victoria Decker

Occupational Safety & Health, Elder Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 8 Years

CONTACT

141 E Main St, Huntington, NY 11743

Frank Prestia

Corporate, Commercial Real Estate, Commercial Bankruptcy, Intellectual Property

Status: In Good Standing Licensed: 20 Years

CONTACT

223 Wall St, Huntington, NY 11743

Andrew M. Doktofsky

Commercial Real Estate, Credit & Debt, Collection, Bankruptcy

Status: In Good Standing

CONTACT

52 Elm St, Huntington, NY 11743

Richard Leigh Stern

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

38 New St, Huntington, NY 11743

Georgia Skevofilax

Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

145 Pidgeon Hill Rd, Huntington Station, NY 11746

Adam Charles Gomerman

Real Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

807 E Jericho Tpke, Huntington Station, NY 11746

Jan Gomerman

Bankruptcy

Status: In Good Standing Licensed: 23 Years

CONTACT

807 E Jericho Tpke, Huntington Station, NY 11746

800-923-0641

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LEGAL TERMS

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.'

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.

FDCPA

See Fair Debt Collections & Practices Act.

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.

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

... Department. Decided April 1, 2008. Concur â€” Gonzalez, JP, Williams, Catterson and Moskowitz, JJ. On or about February 21, 2001, plaintiff filed a petition in the United States Bankruptcy Court for the District of New Jersey. Some ...

Insurance Co. v. HSBC BANK USA

... We are asked in this case to decide whether a Bankruptcy Court order allowing a creditor to seize a debtor's bank account is entitled to res judicata effect in a subsequent state proceeding alleging that a portion of the funds in the account were state tax proceeds that should not ...

White v. Mazella-White

... which was to vacate the aforesaid inquest be made part of this judgment; and it is further," and (3) by deleting the fifth decretal paragraph thereof awarding the defendant the principal sum of $85,000 in equitable distribution payable to the defendant's trustee in bankruptcy; as so ...

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Huntington Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Neil Eric Weissman

Carl Thomas Grasso

Alexandros Tsionis

Kelly Victoria Decker

Frank Prestia

Andrew M. Doktofsky

Richard Leigh Stern

Georgia Skevofilax

Adam Charles Gomerman

Jan Gomerman

TIPS

LEGAL TERMS

FORBEARANCE

BANKRUPTCY TRUSTEE

IRS EXPENSES

CURRENT MONTHLY INCOME

ACCORD AND SATISFACTION

LOSS DAMAGE WAIVER (LDW)

AUTOMATIC STAY

FDCPA

WORKOUT

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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