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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

Alexander Powhida

Landlord-Tenant, Employment Discrimination, Child Custody, Bankruptcy

Status:

CONTACT

State St And Washington Ave, Albany, NY 12224

Alexis Elizabeth Kim

Litigation, Contract, Bankruptcy, Personal Injury

Status: Licensed: 9 Years

CONTACT

200 Great Oaks Blvd, Albany, NY 12203

Andrea Celli

Business, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 36 Years

CONTACT

7 Southwoods Blvd, Albany, NY 12211

Brett Daniel French

Education, Commercial Real Estate, Commercial Bankruptcy, Litigation

Status: Licensed: 9 Years

CONTACT

39 N Pearl St, Albany, NY 12207

Bruce Charles Bramley

Landlord-Tenant, Government, Criminal, Bankruptcy

Status: Licensed: 49 Years

CONTACT

230 Washington Avenue Ext, Albany, NY 12203

Cameron James Macdonald

Commercial Bankruptcy

Status: Licensed: 28 Years

CONTACT

69 State St, Albany, NY 12207

Carl Rosenbloom

Lawsuit & Dispute, Bankruptcy, Personal Injury, Medical Malpractice

Status: Licensed: 61 Years

CONTACT

28 2Nd St, Troy, NY 12180

Erika Catherine Browne

Litigation, Civil Rights, Corporate, Commercial Bankruptcy

Status: Licensed: 19 Years

CONTACT

255 Washington Avenue Ext, Albany, NY 12205

George Samuel King

Motor Vehicle, Bankruptcy, Immigration

Status: Licensed: 50 Years

CONTACT

Albany, NY 12205

Jerrold William Bartman

Bankruptcy

Status: Licensed: 31 Years

CONTACT

421 New Karner Rd, Albany, NY 12205

800-923-0641

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LEGAL TERMS

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

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.

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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Latham Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Alexander Powhida

Alexis Elizabeth Kim

Andrea Celli

Brett Daniel French

Bruce Charles Bramley

Cameron James Macdonald

Carl Rosenbloom

Erika Catherine Browne

George Samuel King

Jerrold William Bartman

TIPS

LEGAL TERMS

ABUSE

LIQUIDATING PARTNER

NUISANCE FEES

IRS EXPENSES

PRESUMED ABUSE

COLLATERAL

AUTOMATIC STAY

CURRENT MONTHLY INCOME

FORBEARANCE

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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