Mount Upton Bankruptcy & Debt Lawyer, New York

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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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Rosemarie Richards

Bankruptcy, Family Law, Adoption, Real Estate

Status: Licensed: 24 Years

CONTACT

156 Coye Brook Rd, South New Berlin, NY 13843

Rosemarie Anne Richards

Family Law, Divorce, Child Custody, Bankruptcy

Status: Licensed: 24 Years

CONTACT

26 Conkey Avenue, Norwich, NY 13815

Michael Alan Brush

Family Law, Divorce & Family Law, Criminal, Collection

Status: Licensed: 57 Years

CONTACT

14 Reynolds Ave, Oneonta, NY 13820

Carol Ann Malz

Real Estate, Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

554 Main St, Oneonta, NY 13820

Donald M. Sukloff

International, Family Law, Divorce & Family Law, Bankruptcy & Debt

Status:

CONTACT

99 Collier St, Binghamton, NY 13901

Edward Marshall Gartell

Real Estate, Bankruptcy & Debt

Status: Licensed: 56 Years

CONTACT

38 W Main St, Hancock, NY 13783

Robert Willis Birch

Real Estate, Business, Bankruptcy & Debt

Status:

CONTACT

Cooperstown, NY 13326

Frederick John Meagher

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

Status: Licensed: 53 Years

CONTACT

114 Home Avenue, Binghamton, NY 13903

Frederick J. Meagher

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

Status: Licensed: 48 Years

CONTACT

114 Home Avenue, Binghamton, NY 13903

Thomas Lawrence Knaphle

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

Status: Licensed: 52 Years

CONTACT

160 Court St, Binghamton, NY 13901

800-923-0641

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LEGAL TERMS

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

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Mount Upton Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Rosemarie Richards

Rosemarie Anne Richards

Michael Alan Brush

Carol Ann Malz

Donald M. Sukloff

Edward Marshall Gartell

Robert Willis Birch

Frederick John Meagher

Frederick J. Meagher

Thomas Lawrence Knaphle

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LEGAL TERMS

LIEN

MEETING OF CREDITORS

DEBT COLLECTOR

HOUSEHOLDER

TOXIC TORT

CHAPTER 13 BANKRUPTCY

GARNISHMENT

S CORPORATION

SECURED DEBT

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