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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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John Krawczyk

Americans with Disabilities Act , Commercial Banks, Credit & Debt, Directors & Officers

Status: In Good Standing

CONTACT

16650 W. Bluemound Rd., Brookfield, WI 53005

Brian A. Romans

Contract, Credit & Debt, Estate Administration, Land Use & Zoning

Status: In Good Standing

CONTACT

N94 W17900 Appleton Avenue, Menomonee Falls, WI 53051

Beth M Brockmeyer

Commercial Bankruptcy, Consumer Bankruptcy, Credit & Debt

Status: In Good Standing

CONTACT

N14 W24200 Tower Place, Waukesha, WI 53188

Vanessa Thomas

General Practice

Status: In Good Standing Licensed: 8 Years

CONTACT

250 N Sunny Slope Rd, Brookfield, WI 53005

Brandon Eugene Bowlin

Credit & Debt, Collection

Status: In Good Standing Licensed: 19 Years

CONTACT

13890 Bishops Dr, Brookfield, WI 53005

Nathan E. DeLadurantey

Motor Vehicle, Consumer Rights, Credit & Debt, Collection

Status: In Good Standing Licensed: 18 Years

CONTACT

330 S Executive Dr, Brookfield, WI 53005

Brandon E. Bowlin

Credit & Debt, Collection

Status: In Good Standing Licensed: 19 Years

CONTACT

13890 Bishops Dr, Brookfield, WI 53005

Scott David Nabke

Commercial Real Estate, Insurance, Credit & Debt, Bankruptcy

Status: In Good Standing Licensed: 23 Years

CONTACT

165 Bishops Way, Brookfield, WI 53005

Emily E. Dinegan

Criminal, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 20 Years

CONTACT

39 S Main St, Fond Du Lac, WI 54935

Donald J. Straka

General Practice

Status: In Good Standing

CONTACT

N75W28846 Coldstream Dr, Hartland, WI 53029

800-923-0641

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LEGAL TERMS

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

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.

SAMPLE LEGAL CASES

HARBOR CREDIT UNION v. SAMP

... 1 BLANCHARD, J. Harbor Credit Union obtained a judgment of foreclosure on real estate owned by Christopher Samp based on Samp's default on a first mortgage and note. ... So Mr. Samp would be walking away without any debt to [Harbor] in regard to those two loans.". ...

IN RE THE MARRIAGE OF CHON v. Sorensen

... 4 The trial court found that Sorenson overpaid maintenance, essentially cancelling out the credit card debt. ... The court expressly found credible Sorenson's testimony regarding the payment of the credit card debt. We defer to the circuit court's credibility determinations. Wis. Stat. ...

IN RE THE MARRIAGE OF IVERSON v. Iverson

... Jean agreed to "maintain average inventory in the store" and further agreed that "she will not increase the credit card debt against the business beyond $50,000." Lowell agreed to pay Jean a $40,000 cash equalization payment from his share of the net sale proceeds of ...

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Okauchee Credit & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Krawczyk

Brian A. Romans

Beth M Brockmeyer

Vanessa Thomas

Brandon Eugene Bowlin

Nathan E. DeLadurantey

Brandon E. Bowlin

Scott David Nabke

Emily E. Dinegan

Donald J. Straka

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LEGAL TERMS

UNDUE HARDSHIP

UNSECURED DEBT

LIMITED LIABILITY

CHAPTER 7 BANKRUPTCY

GUARANTEED RESERVATION

REAFFIRMATION

COLLECTION AGENCY

DOING BUSINESS AS (DBA)

MEETING OF CREDITORS

SAMPLE LEGAL CASES

HARBOR CREDIT UNION v. SAMP

IN RE THE MARRIAGE OF CHON v. Sorensen

IN RE THE MARRIAGE OF IVERSON v. Iverson

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