Mineola Bankruptcy & Debt Lawyer, New York, page 4

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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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Gary Petropoulos

Litigation, Insurance, Reorganization, Legal Malpractice

Status:

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Kim D. Victor

Litigation, Corporate, Credit & Debt, Bankruptcy

Status: Licensed: 28 Years

CONTACT

90 Merrick Ave, East Meadow, NY 11554

Katuria E. D'Amato

Land Use & Zoning, Corporate, Commercial Bankruptcy, Legal Malpractice

Status: Licensed: 27 Years

CONTACT

114 Old Country Rd, Mineola, NY 11501

Bruce David Mael

Business & Trade, Banking & Finance, Business, Bankruptcy & Debt

Status: Licensed: 35 Years

CONTACT

100 Garden City Plaza, Garden City, NY 11530

Kristen Marie Mitaritonna

Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

200 I U Willets Road, Albertson, NY 11507

Donald Jay Schwartz

Commercial Bankruptcy, Commercial Real Estate, Corporate, Partnerships

Status: Licensed: 51 Years

CONTACT

333 Earle Ovington Blvd, Uniondale, NY 11553

Louis A. Scarcella

Real Estate, Litigation, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 47 Years

CONTACT

1320 Rxr Plz, Uniondale, NY 11556

David Alexander Antwork

Civil Rights, Business, Complex Litigation, Commercial Bankruptcy

Status:

CONTACT

526 Rxr Plaza, Uniondale, NY 11556

Robert Donald Nosek

Litigation, Collection, Commercial Bankruptcy, Bankruptcy & Debt

Status: Licensed: 26 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Gregory Laurence Matalon

Estate Administration, Estate Planning, Elder Law, Reorganization

Status: Licensed: 26 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

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LEGAL TERMS

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

Mineola Bankruptcy & Debt Lawyer, New York, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Gary Petropoulos

Kim D. Victor

Katuria E. D'Amato

Bruce David Mael

Kristen Marie Mitaritonna

Donald Jay Schwartz

Louis A. Scarcella

David Alexander Antwork

Robert Donald Nosek

Gregory Laurence Matalon

TIPS

LEGAL TERMS

NONDISCHARGEABLE DEBTS

INTEREST

DEFINED CONTRIBUTION PLAN

WINDING UP

CREDIT REPORT

ACCORD AND SATISFACTION

PRIORITY DEBT

SETOFF

FDCPA

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