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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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George W. Redder

Corporate, Business Organization, Bankruptcy, Divorce

Status:

CONTACT

243 Wall Street, Kingston, NY 12401

John Metzner Leonardson

Real Estate, Government, Estate, Bankruptcy & Debt

Status: Licensed: 47 Years

CONTACT

Hudson, NY 12534

Kevin B. Thiemann

Foreclosure, Real Estate, Government, Bankruptcy & Debt

Status: Licensed: 41 Years

CONTACT

1 Hudson City Ctr, Hudson, NY 12534

Bernhardt Karp

International, Estate, Collection

Status: Licensed: 61 Years

CONTACT

1 Hudson City Ctr, Hudson, NY 12534

Felicia S Raphael

Bankruptcy, State and Local, Civil Rights, Animal Bite, Criminal

Status: Licensed: 35 Years

CONTACT

275 Wall Street, Kingston, NY 12401

Richard Roy Williams

Mass Torts, Litigation, Bankruptcy, Personal Injury

Status: Licensed: 11 Years

CONTACT

244 Fair Street, Kingston, NY 12402

Chester George Krom

Real Estate, Bankruptcy & Debt

Status: Licensed: 54 Years

CONTACT

86 Elmendorf St, Kingston, NY 12401

Matthew Thomas Dunn

Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 21 Years

CONTACT

260 Fair St, Kingston, NY 12401

Jason Joseph Kovacs

Real Estate, Bankruptcy, Bankruptcy & Debt, Personal Injury

Status: Licensed: 21 Years

CONTACT

255 Fair St, Kingston, NY 12402

Nicholas Anthony Pascale

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

Status:

CONTACT

255 Fair Street, Kingston, NY 12402

800-923-0641

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LEGAL TERMS

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.

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.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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Palenville Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

George W. Redder

John Metzner Leonardson

Kevin B. Thiemann

Bernhardt Karp

Felicia S Raphael

Richard Roy Williams

Chester George Krom

Matthew Thomas Dunn

Jason Joseph Kovacs

Nicholas Anthony Pascale

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LEGAL TERMS

GUARANTEED RESERVATION

NONEXEMPT PROPERTY

UNDUE HARDSHIP

GENERAL PARTNER

CREDIT INSURANCE

WORKOUT

NONPROFIT CORPORATION

MEANS TEST

WINDING UP

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