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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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William F. Wilcox

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 74 Years

CONTACT

112 Farrier Ave, Oneida, NY 13421

Peter Alan Baum

Social Security, Family Law, Criminal, Collection

Status: In Good Standing Licensed: 52 Years

CONTACT

601 Lakeport Rd, Chittenango, NY 13037

Robert Lee Moore

Family Law, Corporate, Collection, Personal Injury

Status: In Good Standing Licensed: 51 Years

CONTACT

35 University Ave, Hamilton, NY 13346

Robert Lawrence Moore

Family Law, Corporate, Collection, Personal Injury

Status: In Good Standing Licensed: 51 Years

CONTACT

35 University Ave, Hamilton, NY 13346

Maxsen David Champion

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

8578 E Genesee St, Fayetteville, NY 13066

Karlene Ann Archer

Bankruptcy & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

4262 Trout Lilly Ln, Manlius, NY 13104

Susan N. Esce

Bankruptcy

Status: In Good Standing Licensed: 37 Years

CONTACT

4797 Huntwood Path, Manlius, NY 13104

Michael James Laucello

Social Security -- Disability, Divorce, Bankruptcy, Personal Injury, Divorce & Family Law

Status: In Good Standing Licensed: 46 Years

CONTACT

40 Chenango Avenue, Clinton, NY 13323

Edward Dunscomb Earl

Employment, Bankruptcy & Debt

Status: In Good Standing

CONTACT

46 N Park Row, Clinton, NY 13323

Walter Lawrence Meagher

Environmental Law Other, Elder Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 59 Years

CONTACT

425 Salt Springs St, Fayetteville, NY 13066

800-923-0641

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LEGAL TERMS

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

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).

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Peterboro Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

William F. Wilcox

Peter Alan Baum

Robert Lee Moore

Robert Lawrence Moore

Maxsen David Champion

Karlene Ann Archer

Susan N. Esce

Michael James Laucello

Edward Dunscomb Earl

Walter Lawrence Meagher

TIPS

LEGAL TERMS

BANKRUPTCY TRUSTEE

BULK SALES LAW

BANKRUPTCY

AUTOMATIC STAY

C CORPORATION

GARNISHMENT

TRADE DRESS

401(K) PLAN

CREDIT REPORT

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