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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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Haskell Rosenfeld

Litigation, Industry Specialties, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing

CONTACT

2 Perlman Dr, Spring Valley, NY 10977

Richard Weinberger

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 62 Years

CONTACT

40 Skylark Dr, Spring Valley, NY 10977

Julian A. Schulman

Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

Four Executive Blvd, Suffern, NY 10901

Marc I. Kissel

Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

4 Executive Blvd, Suffern, NY 10901

Steven M. Greco

Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

4 Executive Blvd, Suffern, NY 10901

Wayne Anthony Gavioli

Industry Specialties, Family Law, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 48 Years

CONTACT

101 N Middletown Rd, Nanuet, NY 10954

Marie Condoluci

Real Estate, Lawsuit, Patent, Bankruptcy, Wrongful Death

Status: In Good Standing Licensed: 26 Years

CONTACT

27 Carmen Dr, Nanuet, NY 10954

Jay Russell Golland

Real Estate, Motor Vehicle, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing

CONTACT

254 S Main St, New City, NY 10956

Edward John Quilice

Bankruptcy & Debt

Status: In Good Standing Licensed: 14 Years

CONTACT

254 S Main St, New City, NY 10956

Thomas Sassone

Immigration, Divorce, DUI-DWI, Bankruptcy & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

22 S Main St, New City, NY 10956

800-923-0641

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LEGAL TERMS

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

FCBA

See Fair Credit Billing Act.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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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Kaser Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Haskell Rosenfeld

Richard Weinberger

Julian A. Schulman

Marc I. Kissel

Steven M. Greco

Wayne Anthony Gavioli

Marie Condoluci

Jay Russell Golland

Edward John Quilice

Thomas Sassone

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LEGAL TERMS

BANKRUPTCY

ACCORD AND SATISFACTION

FCBA

DEFINED CONTRIBUTION PLAN

ABUSE

TRADE DRESS

DISCHARGE (OF DEBTS)

SOLE PROPRIETORSHIP

DISPOSABLE INCOME

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