New Hyde Park Bankruptcy & Debt Lawyer, New York, 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.
3. Practice AreasServices
  Find out how an experienced attorney can help end calls and prevent lawsuits.
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Michael Adam Schwartz

Real Estate, Employment, Business, Bankruptcy

Status: Licensed: 32 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Glenn Stuart Garbus

Collection, Bankruptcy & Debt

Status: Licensed: 28 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Scott Charles Sharinn

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

Status: Licensed: 14 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Emily Gottlieb

Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: Licensed: 24 Years

CONTACT

1985 Marcus Avenue, New Hyde Park, NY 11042

Kevin John Kiley

Education, Landlord-Tenant, Wills & Probate, Bankruptcy & Debt

Status: Licensed: 39 Years

CONTACT

3000 Marcus Ave, Great Neck, NY 11042

Justin Adam Levy

Lawsuit & Dispute, Criminal, Business, Bankruptcy & Debt

Status: Licensed: 15 Years

CONTACT

3000 Marcus Ave, Great Neck, NY 11042

Jamie P Polon

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

Status: Licensed: 23 Years

CONTACT

1981 Marcus Ave, Great Neck, NY 11042

Howard S. Fensterman

Real Estate, Industry Specialties, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 46 Years

CONTACT

3 Dakota Dr, Great Neck, NY 11042

Michael D. Brofman

Real Estate, Litigation, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 46 Years

CONTACT

3333 New Hyde Park Rd, Great Neck, NY 11042

Alan Howard Sonnenklar

Litigation, Health Care, Life & Health, Bankruptcy

Status: Licensed: 31 Years

CONTACT

3333 New Hyde Park Rd, Great Neck, NY 11042

800-923-0641

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LEGAL TERMS

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.

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

FCBA

See Fair Credit Billing Act.

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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New Hyde Park Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael Adam Schwartz

Glenn Stuart Garbus

Scott Charles Sharinn

Emily Gottlieb

Kevin John Kiley

Justin Adam Levy

Jamie P Polon

Howard S. Fensterman

Michael D. Brofman

Alan Howard Sonnenklar

TIPS

LEGAL TERMS

S CORPORATION

CHAPTER 13 BANKRUPTCY

CHAPTER 7 BANKRUPTCY

REAFFIRMATION

DISCHARGE (OF DEBTS)

TOXIC TORT

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

FCBA

SECURED DEBT

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