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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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John Weber

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Bankruptcy & Debt, Real Estate, Estate, Credit & Debt, Collection

With the singular focus of individual Bankruptcy Law, we bring a collective effort to delivering personalized and effective representation to each of ... (more)

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CONTACT

800-910-2530

PO box 866, Amityville, NY 11701

Alan Thomas Schmidlin

Collection, Condominiums, Conveyancing, Foreclosure

Status: In Good Standing

CONTACT

200 Garden City Plaza, Garden City, NY 11530

Paul S. Hyl

Health Care Other, Estate Planning, Elder Law, Collection

Status: In Good Standing

CONTACT

225 Broad Hollow Road, Melville, NY 11747

Timothy James Murtha

Commercial Real Estate, Collection, Bankruptcy & Debt

Status: In Good Standing

CONTACT

125 Michael Drive, Syosset, NY 11791

Douglas M Lieberman

Arbitration, Criminal, Collection, Animal Bite

Status: In Good Standing Licensed: 38 Years

CONTACT

115 N Broadway, Hicksville, NY 11801

Andrew M. Doktofsky

Commercial Real Estate, Credit & Debt, Collection, Bankruptcy

Status: In Good Standing

CONTACT

52 Elm St, Huntington, NY 11743

Bradley T. Slover

Corporate, Contract, Business Organization, Collection

Status: In Good Standing Licensed: 16 Years

CONTACT

173 School St, Old Westbury, NY 11590

Danny D. De Voe

Bankruptcy & Debt, Business, Collection, Estate

Status: In Good Standing Licensed: 18 Years

CONTACT

1325 Franklin Ave., Garden City, NY 11530

Scott Robert Cohen

Landlord-Tenant, Insurance, Collection, Legal Malpractice

Status: In Good Standing

CONTACT

1921 Bellmore Avenue, Bellmore, NY 11710

James Pennington Truitt

Commercial Real Estate, Commercial Leasing, Commercial Insurance, Collection

Status: In Good Standing Licensed: 24 Years

CONTACT

300 Garden City Plaza, Garden City, NY 11530

800-923-0641

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LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

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.

LIQUIDATING PARTNER

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

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.

CREDITOR

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

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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Melville Collection Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Weber

Alan Thomas Schmidlin

Paul S. Hyl

Timothy James Murtha

Douglas M Lieberman

Andrew M. Doktofsky

Bradley T. Slover

Danny D. De Voe

Scott Robert Cohen

James Pennington Truitt

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LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

IRS EXPENSES

LIQUIDATING PARTNER

WORKOUT

CREDITOR

UNSECURED DEBT

COLLATERAL

REAFFIRMATION

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