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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 Siegel

Bankruptcy & Debt, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

10540 S. Western Ave, Chicago, IL 60643

Sabrina Herrell

Commercial Real Estate, Litigation, Estate Planning, Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

11416 S Prairie Ave, Chicago, IL 60628

Sabrina Herrell

Commercial Real Estate, Litigation, Estate Planning, Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

11416 S Prairie Ave, Chicago, IL 60628

Wade Arends

Federal Appellate Practice, Workers' Compensation, Divorce, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

10129 S Western Ave, Chicago, IL 60643

Wade Brien Arends

Federal Appellate Practice, Workers' Compensation, Divorce, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

10129 S Western Ave, Chicago, IL 60643

Joseph Michael Olstein

Real Estate, Consumer Rights, Consumer Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

10450 S Western Ave, Chicago, IL 60643

Angelo Vitiritti

Divorce & Family Law, Criminal, Bankruptcy, Estate Planning

Status: In Good Standing Licensed: 35 Years

CONTACT

16231 Wausau Ave, South Holland, IL 60473

Angelo J. Vitiritti

Bankruptcy, Estate Planning, Transactions, Criminal

Status: In Good Standing Licensed: 35 Years

CONTACT

16231 Wausau Ave, South Holland, IL 60473

Alexander Nohr

Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

11101 S. Western Avenue, Chicago, IL 60643

Damita Gail Buffington

Real Estate, Family Law, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

10849 S Western Ave, Chicago, IL 60643

800-923-0641

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LEGAL TERMS

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

TRADE NAME

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

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

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.

CCCS

See Consumer Credit Counseling Service.

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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Riverdale Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Siegel

Sabrina Herrell

Sabrina Herrell

Wade Arends

Wade Brien Arends

Joseph Michael Olstein

Angelo Vitiritti

Angelo J. Vitiritti

Alexander Nohr

Damita Gail Buffington

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LEGAL TERMS

FAIR LABOR STANDARDS ACT (FLSA)

TRADE NAME

GENERAL PARTNER

PREFERENCE

AUTOMATIC STAY

CCCS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

CURRENT MONTHLY INCOME

ACCORD AND SATISFACTION

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