Rockville Centre Bankruptcy & Debt Lawyer, New York, page 3

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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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Amanda Gurman

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing

CONTACT

926 Rxr Plz, Uniondale, NY 11556

Amy Lesserson Brown

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

121 Hofstra University, Hempstead, NY 11549

Andrea Cara Sacks

Employee Rights, Business, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 22 Years

CONTACT

926 Rxr Plaza, Uniondale, NY 11556

Andreea N. Stefanescu Knudson

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 17 Years

CONTACT

926 Rxr Plz, Uniondale, NY 11556

Andrew Lee Markowitz

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

1325 Franklin Avenue, Garden City, NY 11530

Angelica Marie Barcsansky

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 7 Years

CONTACT

926 Rxr Plaza, Uniondale, NY 11556

Anne Marie Murray

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing

CONTACT

926 Rxr Plaza, Uniondale, NY 11556

Anne M. Murray

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing

CONTACT

926 Rxr Plz, Uniondale, NY 11556

Annie Patricia Kubic

Real Estate, Litigation, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

1201 Rxr Plaza, Uniondale, NY 11556

Annilus J. Gilot

Immigration, Federal Appellate Practice, Civil Rights, Credit & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

70 Charles Lindbergh Blvd, Garden City, NY 11553

800-923-0641

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LEGAL TERMS

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.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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.

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.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

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.

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Rockville Centre Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Amanda Gurman

Amy Lesserson Brown

Andrea Cara Sacks

Andreea N. Stefanescu Knudson

Andrew Lee Markowitz

Angelica Marie Barcsansky

Anne Marie Murray

Anne M. Murray

Annie Patricia Kubic

Annilus J. Gilot

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LEGAL TERMS

AUTOMATIC STAY

WORKOUT

CREDIT REPORT

CHAPTER 13 BANKRUPTCY

COSIGNER

FAIR LABOR STANDARDS ACT (FLSA)

DISCHARGEABLE DEBTS

DISPOSABLE INCOME

ADMINISTRATIVE EXPENSES

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