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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 Charles Nangle

Commodities, Shareholders' Rights, Business & Trade, Credit & Debt

Status: Licensed: 10 Years

CONTACT

600 Lexington Ave, New York, NY 10022

Alex Spizz

Reorganization, Bankruptcy, Credit & Debt, Bankruptcy Litigation

Status: Licensed: 51 Years

CONTACT

425 Park Avenue, New York, NY 10022

Joseph L. Fox

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

Status:

FREE CONSULTATION

CONTACT

240 Madison Avenue, New York, NY 10016

Subhan Tariq

Litigation, Immigration, Divorce & Family Law, Credit & Debt, Bankruptcy & Debt

Status: Licensed: 11 Years

CONTACT

99 Park Ave, New York, NY 10016

Julia Emmet Heald

Mass Torts, International Tax, Banking & Finance, Credit & Debt

Status: Licensed: 9 Years

CONTACT

425 Lexington Ave, New York, NY 10017

Christine Elizabeth Turner

International Tax, Corporate, Banking & Finance, Credit & Debt

Status: Licensed: 9 Years

CONTACT

425 Lexington Ave, New York, NY 10017

Sarah Ann Padove

Child Support, Child Custody, Consumer Rights, Credit & Debt

Status: Licensed: 13 Years

CONTACT

245 Park Ave, New York, NY 10167

Stephen Howard Finkelstein

Trusts, Civil Rights, Corporate, Credit & Debt

Status: Licensed: 58 Years

CONTACT

369 Lexington Ave, New York, NY 10017

Issac Cwibeker

Bankruptcy & Debt, Credit & Debt, Business, Lawsuit & Dispute, Criminal

Status: Licensed: 9 Years

FREE CONSULTATION

CONTACT

483 Chestnut Street, Cedarhurst, NY 11516

Peter Mathew Agulnick

Construction, State Appellate Practice, Insurance, Credit & Debt

Status:

CONTACT

1120 Northern Blvd, Manhasset, NY 11030

800-814-6700

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LEGAL TERMS

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

FCBA

See Fair Credit Billing 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.

LIQUIDATING PARTNER

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

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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.

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 5

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Charles Nangle

Alex Spizz

Joseph L. Fox

Subhan Tariq

Julia Emmet Heald

Christine Elizabeth Turner

Sarah Ann Padove

Stephen Howard Finkelstein

Issac Cwibeker

Peter Mathew Agulnick

TIPS

LEGAL TERMS

GUARANTOR

GARNISHMENT

ADMINISTRATIVE EXPENSES

FCBA

SUBROGATION

LIQUIDATING PARTNER

DEFINED CONTRIBUTION PLAN

CHAPTER 7 BANKRUPTCY

CREDIT COUNSELING

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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