Kenilworth Bankruptcy & Debt Lawyer, Illinois

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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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Howard Peritz

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

Howard Peritz is an attorney with experience as a sole proprietor, insurance industry corporate counsel, managing attorney and a senior associate in C... (more)

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CONTACT

847-665-1648

5 Revere Drive, Northbrook, IL 60062

David N Byer

Landlord-Tenant, Divorce & Family Law, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 18 Years

FREE CONSULTATION

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1780 Maple Street, Northfield, IL 60093

Ben Schneider

Foreclosure, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

FREE CONSULTATION

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8424 Skokie Blvd., Skokie, IL 60077

Richard Gilbaugh

Tax, Bankruptcy, International Tax

Status: In Good Standing Licensed: 13 Years

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717 Ridge Rd, Wilmette, IL 60091

Jeffrey Strange

Business, Collection, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

717 Ridge Road, Wilmette, IL 60091

Jeffrey Strange

Business, Collection, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

717 Ridge Road, Wilmette, IL 60091

Carol Di Giacomo

Estate Planning, Adoption, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 42 Years

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191 Waukegan Rd., Winnetka, IL 60093

Ben Leo Schneider

Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

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8424 Blvd, Skokie, IL 60077

Stuart Lloyd Swanson

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

4131 Main St, Skokie, IL 60076

Barbara Decoster

Estate, Transactions, Collection, Products Liability

Status: In Good Standing Licensed: 47 Years

CONTACT

1620 Cleveland Street, Evanston, IL 60202

800-923-0641

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LEGAL TERMS

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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.

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.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

FDCPA

See Fair Debt Collections & Practices Act.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CREDIT FILE

See credit report.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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Kenilworth Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Howard Peritz

David N Byer

Ben Schneider

Richard Gilbaugh

Jeffrey Strange

Jeffrey Strange

Carol Di Giacomo

Ben Leo Schneider

Stuart Lloyd Swanson

Barbara Decoster

TIPS

LEGAL TERMS

TOXIC TORT

SETOFF

FORBEARANCE

CREDITOR

PREFERENCE

FDCPA

INTEREST

CREDIT FILE

CHAPTER 7 BANKRUPTCY

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