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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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James G. Yastion

Corporate, Collection, Complex Litigation, Credit & Debt

Status:

CONTACT

10 Matthews Street, Goshen, NY 10924

Robert J. Buonomo

Bankruptcy, Business Organization, Insurance, Litigation

Status:

CONTACT

1997 State Route 17M, Goshen, NY 10924

David Nicolle Hannigan

Criminal, Bankruptcy

Status: Licensed: 45 Years

CONTACT

62 N Main St, Florida, NY 10921

Douglas Michael Jones

Real Estate, Litigation, Medicare & Medicaid, Business, Bankruptcy & Debt

Status: Licensed: 34 Years

CONTACT

2 N Main St, Florida, NY 10921

Simon David Haysom

Timeshare, Immigration, Divorce, Bankruptcy

Status: Licensed: 35 Years

CONTACT

Goshen, NY 10924

Frank A. Lombardi

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

Status: Licensed: 22 Years

CONTACT

38 Jordan Lane, Middletown, NY 10940

Howard S. Dallow

International, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 55 Years

CONTACT

225 Dolson Ave, Middletown, NY 10940

Emily Cajigas

Real Estate, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

41 Dolson Avenue, Middletown, NY 10940

Michael Schwartz

Bankruptcy

Status: Licensed: 62 Years

CONTACT

20 Benedict St, Middletown, NY 10940

Ronald Steven Kossar

Immigration, Estate, Divorce, Bankruptcy

Status:

CONTACT

410 E Main St, Middletown, NY 10940

800-923-0641

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LEGAL TERMS

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.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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).

New Hampton Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James G. Yastion

Robert J. Buonomo

David Nicolle Hannigan

Douglas Michael Jones

Simon David Haysom

Frank A. Lombardi

Howard S. Dallow

Emily Cajigas

Michael Schwartz

Ronald Steven Kossar

TIPS

LEGAL TERMS

TOXIC TORT

SETOFF

LIMITED LIABILITY

LIMITED PARTNERSHIP

INTEREST

GARNISHMENT

401(K) PLAN

CREDIT REPORT

CREDITOR

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