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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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Mary Lannon Fangio

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Bankruptcy & Debt, Residential Real Estate

Cum Laude

When you need legal help to deal with debt, property or business matters, an experienced attorney offers you the best chance for a successful resoluti... (more)

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CONTACT

800-652-8481

247-259 West Fayette Street, Syracuse, NY 13202

Elisabeth A. Barker

Traffic, Guardianships & Conservatorships, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Empire Building, 472 South Salina Street, 620, Syracuse, NY 13202

David L Delvecchio

Bankruptcy, Contract, Estate Planning, Family Law

Status: In Good Standing

CONTACT

109 South Warren Street, Syracuse, NY 13202

Holly Kozlowski Austin

Real Estate, Lawsuit & Dispute, Environmental Law, Bankruptcy

Status: In Good Standing Licensed: 20 Years

CONTACT

Jordan, NY 13080

Jarrod William Smith

Divorce & Family Law, Criminal, Collection

Status: In Good Standing

CONTACT

11 S Main St, Jordan, NY 13080

Karen Veronica Defio

Other, Estate, Civil & Human Rights, Bankruptcy, Car Accident

Status: In Good Standing Licensed: 26 Years

CONTACT

2848 Hiltonwood Road, Baldwinsville, NY 13027

Manuel Alejandro Arroyo

Environmental Law Other, Elder Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 15 Years

CONTACT

1034 Butters Farm Ln, Skaneateles, NY 13152

David M. Badami

Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

36 Onondaga St, Skaneateles, NY 13152

Kristin M. Sunser-King

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

236 Bury Dr, Syracuse, NY 13209

David Shockey

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

115 Mackay Ave, Syracuse, NY 13219

800-923-0641

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LEGAL TERMS

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

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.

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.'

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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Jordan Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mary Lannon Fangio

Elisabeth A. Barker

David L Delvecchio

Holly Kozlowski Austin

Jarrod William Smith

Karen Veronica Defio

Manuel Alejandro Arroyo

David M. Badami

Kristin M. Sunser-King

David Shockey

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LEGAL TERMS

REAFFIRMATION

CREDIT INSURANCE

LIMITED PARTNERSHIP

DEBT COLLECTOR

SECURED DEBT

LOSS DAMAGE WAIVER (LDW)

SETOFF

COLLATERAL

WORKOUT

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