New Auburn Reorganization Lawyer, Wisconsin, page 2

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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.
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Not enough matches for New Auburn Reorganization lawyer.
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Jon Elton Stanek

Consumer Rights, Civil Rights, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

Eau Claire, WI 54703

John P. Richie

Estate, DUI-DWI, Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 39 Years

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101 Putnam St, Eau Claire, WI 54702

Eric Wiechert

International Tax, Construction, Bankruptcy

Status: In Good Standing

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126 N Barstow St., Eau Claire, WI 54702

Lucy A Bjork

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

Status: In Good Standing Licensed: 39 Years

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E7818 County Rd E, Menomonie, WI 54751

Michelle F. Achterberg

Employment, Family Law, Civil Rights, Business, Bankruptcy

Status: In Good Standing Licensed: 13 Years

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310 Pinnacle Way, Eau Claire, WI 54701

Michael Schumacher

Industry Specialties, Civil & Human Rights, Business, Bankruptcy & Debt

Status: Suspended Licensed: 42 Years

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116 West Grand Avenue, Eau Claire, WI 54701

Brian Howard Wright

Employment, Criminal, Litigation, Bankruptcy

Status: In Good Standing Licensed: 31 Years

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116 West Grand Avenue, Eau Claire, WI 54702

Lisa Hirschman

Traffic, Estate, Wrongful Termination, Criminal, Bankruptcy

Status: In Good Standing Licensed: 11 Years

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515 South Barstow Street, Eau Claire, WI 54702

Eric M Wiechert

Construction, Litigation, International Tax, Bankruptcy

Status: In Good Standing

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Ladysmith, WI 54848

Katie Marie Posewitz

Social Security, Workers' Compensation, Family Law, Collection

Status: In Good Standing Licensed: 14 Years

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Ladysmith, WI 54848

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LEGAL TERMS

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

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.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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New Auburn Reorganization Lawyer, Wisconsin, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jon Elton Stanek

John P. Richie

Eric Wiechert

Lucy A Bjork

Michelle F. Achterberg

Michael Schumacher

Brian Howard Wright

Lisa Hirschman

Eric M Wiechert

Katie Marie Posewitz

TIPS

LEGAL TERMS

COLLATERAL

ABUSE

PRIORITY DEBT

BANKRUPTCY TRUSTEE

BULK SALES LAW

SECRET WARRANTY PROGRAM

SOLE PROPRIETORSHIP

GUARANTOR

NONEXEMPT PROPERTY

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