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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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Aradhana Sonali Carlson

Tax, Credit & Debt

Status: Licensed: 23 Years

CONTACT

599 Lexington Ave, New York, NY 10022

Benjamin Hoch

Business, Workout, Credit & Debt, Bankruptcy & Debt

Status: Licensed: 36 Years

CONTACT

1301 Avenue Of The Americas, New York, NY 10019

Bik Cheema

Real Estate, Business Organization, Credit & Debt, Bankruptcy

Status: Licensed: 22 Years

CONTACT

45 Rockefeller Plz, New York, NY 10111

Bita Michelle Assad

Mass Torts, US Courts, Merger & Acquisition, Credit & Debt

Status: Licensed: 9 Years

CONTACT

51 W 52Nd St, New York, NY 10019

Brad Jeffrey Axelrod

Divorce & Family Law, Contract, Business, Credit & Debt

Status:

CONTACT

500 5Th Ave, New York, NY 10110

Bradley David Wank

Motor Vehicle, Litigation, Wills & Probate, Credit & Debt

Status:

CONTACT

20 Crescent Ln, Dobbs Ferry, NY 10522

Brett David Sherman

Litigation, Employment Discrimination, Consumer Protection, Credit & Debt, Personal Injury

Status: Licensed: 26 Years

CONTACT

60 E 42Nd St, New York, NY 10165

Brian Douglas Hail

Commercial Real Estate, Real Estate, Litigation, Credit & Debt

Status: Licensed: 32 Years

CONTACT

590 Madison Ave, New York, NY 10022

Brian Lamar Ponder

Foreclosure, Consumer Protection, Credit & Debt, Medical Malpractice

Status:

CONTACT

200 Park Ave, New York, NY 10166

Brian Jonathan Davis

Government, Divorce & Family Law, Criminal, Credit & Debt

Status: Licensed: 41 Years

CONTACT

26 Schoolhouse Pl, Glen Head, NY 11771

800-814-6700

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LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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.

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.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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

Aradhana Sonali Carlson

Benjamin Hoch

Bik Cheema

Bita Michelle Assad

Brad Jeffrey Axelrod

Bradley David Wank

Brett David Sherman

Brian Douglas Hail

Brian Lamar Ponder

Brian Jonathan Davis

TIPS

LEGAL TERMS

FAIR CREDIT REPORTING ACT (FCRA)

WINDING UP

CREDIT COUNSELING

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

NONPROFIT CORPORATION

TRADE DRESS

DISCHARGEABLE DEBTS

C CORPORATION

UNSECURED DEBT

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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