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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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Mark T. Starkman

Administrative Law, Bankruptcy Litigation, Construction Liens, Credit & Debt

Status: In Good Standing

CONTACT

Orange Avenue, Walden, NY 12586

John H. Thomas

Bankruptcy, Landlord-Tenant, Real Estate, Litigation

Status: In Good Standing

CONTACT

158 Orange Avenue, Walden, NY 12586

Paul Damian Shaheen

Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

623 Granite Rd, Kerhonkson, NY 12446

Marcello Antonio Cirigliano

Commercial Real Estate, Wills, Estate, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

15 Scott'S Corners Dr, Montgomery, NY 12549

Joseph Wilson Coburn

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

Status: In Good Standing Licensed: 45 Years

CONTACT

Pine Bush, NY 12566

Brandon Charles Ozman

Education, Dispute Resolution, Criminal, Bankruptcy & Debt, Misdemeanor

Status: In Good Standing Licensed: 36 Years

CONTACT

130 W Main St, Walden, NY 12586

Jonathan Irons

Divorce & Family Law, Criminal, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 44 Years

CONTACT

9 Hammer Ln, Walden, NY 12586

Francis Bryan Paz

Education, Real Estate, Traffic, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 29 Years

CONTACT

Walden, NY 12586

800-923-0641

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LEGAL TERMS

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.

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.

FCBA

See Fair Credit Billing Act.

CREDIT FILE

See credit report.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

DISCHARGE (OF DEBTS)

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

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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Pine Bush Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mark T. Starkman

John H. Thomas

Paul Damian Shaheen

Marcello Antonio Cirigliano

Joseph Wilson Coburn

Brandon Charles Ozman

Jonathan Irons

Francis Bryan Paz

TIPS

LEGAL TERMS

LIMITED PARTNERSHIP

MEETING OF CREDITORS

FCBA

CREDIT FILE

LIABILITY

DISCHARGE (OF DEBTS)

DEFINED CONTRIBUTION PLAN

C CORPORATION

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

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