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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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David Brodman

Reorganization, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 28 Years

FREE CONSULTATION

CONTACT

633 Lydig Avenue, Bronx, NY 10462

Michael H. Schwartz

Foreclosure, Reorganization, Credit & Debt, Consumer Bankruptcy

Status: Licensed: 42 Years

FREE CONSULTATION

CONTACT

One Water Street, White Plains, NY 10601

Rhoda Y. Andors

Administrative Law, Reorganization, Wrongful Termination, Civil Rights

Status:

CONTACT

98 Cutter Mill Road, Great Neck, NY 11021

Esite J Johnson

Medical Malpractice, Property Damage, Banking & Finance, Reorganization

Status: Licensed: 58 Years

CONTACT

124 New York, New York, NY 10035

Scott Wayne Bernstein

Corporate, Income Tax, Reorganization, Trusts

Status: Licensed: 39 Years

CONTACT

205 E 59Th St, New York, NY 10022

Robert Lightfoot Cunningham

Banking & Finance, Reorganization, International Other

Status: Licensed: 52 Years

CONTACT

200 Park Avenue, New York, NY 10166

Alex Spizz

Reorganization, Bankruptcy, Credit & Debt, Bankruptcy Litigation

Status: Licensed: 51 Years

CONTACT

425 Park Avenue, New York, NY 10022

Barton Nachamie

Bankruptcy, Banking & Finance, Dispute Resolution, Reorganization

Status: Licensed: 65 Years

CONTACT

425 Park Ave, New York, NY 10022

Margaret A. Phillips

Reorganization

Status: Licensed: 24 Years

CONTACT

1285 Avenue Of The Americas, New York, NY 10019

Marjorie Jane Friday

Estate Planning, Reorganization

Status: Licensed: 24 Years

CONTACT

1285 Avenue Of The Americas, New York, NY 10019

800-923-0641

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LEGAL TERMS

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

FCRA

See Fair Credit Reporting Act.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

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Pelham Reorganization Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Brodman

Michael H. Schwartz

Rhoda Y. Andors

Esite J Johnson

Scott Wayne Bernstein

Robert Lightfoot Cunningham

Alex Spizz

Barton Nachamie

Margaret A. Phillips

Marjorie Jane Friday

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LEGAL TERMS

FAIR CREDIT BILLING ACT (FCBA)

DEBT COLLECTOR

PRESUMED ABUSE

BANKRUPTCY

CREDIT COUNSELING

LIMITED PARTNERSHIP

FCRA

SUBROGATION

GENERAL PARTNER

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