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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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Richard Michael Kosnik

Venture Capital, International Other, Equine, Credit & Debt

Status: Licensed: 42 Years

CONTACT

222 East 41St Street, New York, NY 10017

Diana J. Lee

Real Estate, Credit & Debt

Status: Licensed: 51 Years

CONTACT

711 3rd Ave, New York, NY 10017

Richard Hunter Engman

Reorganization, Credit & Debt, Workout

Status: Licensed: 28 Years

CONTACT

222 E 41st St, New York, NY 10017

James H. Shenwick

Real Estate, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status:

CONTACT

655 Third Avenue, New York, NY 10017

Judith Elkin

Mediation, International Other, Credit & Debt, Bankruptcy

Status: Licensed: 43 Years

CONTACT

780 Third Avenue, New York, NY 10017

Scott L. Hazan

Litigation, Trusts, Workout, Credit & Debt

Status:

CONTACT

780 3Rd Ave, New York, NY 10017

Karreem Alcindo Washington

General Practice

Status:

CONTACT

485 Lexington Ave, New York, NY 10017

Ankan Kumar Dhal

Litigation, Energy, Insurance, Credit & Debt

Status: Licensed: 8 Years

CONTACT

One Vanderbilt Avenue, New York, NY 10017

Richard Steven Last

Civil Rights, Business, Credit & Debt, Bankruptcy & Debt

Status: Licensed: 43 Years

CONTACT

52 Vanderbilt Ave, New York, NY 10017

Aradhana Sonali Carlson

Tax, Credit & Debt

Status: Licensed: 23 Years

CONTACT

599 Lexington Ave, New York, NY 10022

800-814-6700

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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.

FDCPA

See Fair Debt Collections & Practices Act.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

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.

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

... Such a system is not tolerable in regard to credit card and other consumer credit debt cases where items such as the interest rate, late payment charge, and over-the-limit fees may change several times over the course of the consumer credit agreement. ...

Grasso v. Grasso

... 765 The husband also correctly contends that the Supreme Court improvidently exercised its discretion by, in effect, holding him responsible for 100% of the credit card obligations that constitute the parties' marital debt as well as all the marital debt that was solely in the wife's ...

PRA III LLC v. Gonzalez

... agreement to extend credit to the defendant, the issuance of credit cards at the defendant's address, his use of credit cards, his ... Moreover, the plaintiff submitted no evidence demonstrating the defendant's intention to pay the alleged debt (see General Obligations Law Â§ 17-101 ...

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Queens Credit & Debt Lawyer, New York, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Richard Michael Kosnik

Diana J. Lee

Richard Hunter Engman

James H. Shenwick

Judith Elkin

Scott L. Hazan

Karreem Alcindo Washington

Ankan Kumar Dhal

Richard Steven Last

Aradhana Sonali Carlson

TIPS

LEGAL TERMS

BANKRUPTCY TRUSTEE

FDCPA

LIQUIDATING PARTNER

FAIR CREDIT BILLING ACT (FCBA)

NUISANCE FEES

DISCHARGEABLE DEBTS

LIABILITY

TRADE NAME

LIMITED LIABILITY

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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