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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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Allan Theodore Cannon

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 67 Years

CONTACT

47 Brewster Rd, Scarsdale, NY 10583

Andrew Paul Marks

International Tax, Employment, Civil & Human Rights, Collection

Status: In Good Standing Licensed: 40 Years

CONTACT

555 Theodore Fremd Ave, Rye, NY 10580

Anna R. Schwartz

Litigation, International Tax, Trademark, Collection

Status: In Good Standing Licensed: 28 Years

CONTACT

555 Theodore Fremd Ave, Rye, NY 10580

Benjamin Rosenberg

Bankruptcy & Debt, Criminal, Divorce & Family Law, Accident & Injury

Status: In Good Standing Licensed: 34 Years

CONTACT

1425 E. Gun Hill Road, Bronx, NY 10469

Brie A. E. Steingarten

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

44 Lyncroft Road, New Rochelle, NY 10804

Bruce Bronson

Sales & Use Tax, Litigation, Business, Bankruptcy

Status: In Good Standing

CONTACT

600 Mamaroneck Avenue, Harrison, NY 10528

Candi J. Fulop

Real Estate, Lawsuit & Dispute, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 44 Years

CONTACT

500 Mamaroneck Ave, Harrison, NY 10528

Caren P Bailey

Collection

Status: In Good Standing Licensed: 22 Years

CONTACT

145 Huguenot St, New Rochelle, NY 10801

Christine Marie Vuksanaj

Education, Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 29 Years

CONTACT

274 White Plains Rd, Tuckahoe, NY 10709

Daniel Richard Kaplan

Litigation, International Tax, Trademark, Collection

Status: In Good Standing Licensed: 69 Years

CONTACT

555 Theodore Fremd Ave, Rye, NY 10580

800-923-0641

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LEGAL TERMS

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

CREDITOR

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

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

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.

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.

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.

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.

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

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Larchmont Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Allan Theodore Cannon

Andrew Paul Marks

Anna R. Schwartz

Benjamin Rosenberg

Brie A. E. Steingarten

Bruce Bronson

Candi J. Fulop

Caren P Bailey

Christine Marie Vuksanaj

Daniel Richard Kaplan

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LEGAL TERMS

COSIGNER

ADMINISTRATIVE EXPENSES

CREDITOR

GRACE PERIOD

ACCORD AND SATISFACTION

SECURED DEBT

BANKRUPTCY TRUSTEE

SOLE PROPRIETORSHIP

FAIR CREDIT BILLING ACT (FCBA)

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