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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 A. Kraus

Identity Theft, Consumer Protection, Credit & Debt

CONTACT

332-999-2995

60 E 42Nd St, New York, NY 10165

David Ian Pankin

Workout, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

48 Willoughby St, MetroTech, Brooklyn, NY 11201

Jennifer A. Schwartz

Estate Planning, Family Law, Corporate, Bankruptcy

Status: In Good Standing

CONTACT

360 Lexington Avenue, New York, NY 10017

Jamie B. Chapman

Foreclosure, Real Estate, Transactions, Bankruptcy

Status: In Good Standing

CONTACT

270 Madison Avenue, New York, NY 10016

Edward G. Baer

Condominiums, Commercial Leasing, Landlord-Tenant, Bankruptcy Litigation

Status: In Good Standing

CONTACT

270 Madison Avenue, New York, NY 10016

Patricia L. Martin-Gibbons

Adoption, Affirmative Action, Alimony & Spousal Support, Bankruptcy

Status: In Good Standing

CONTACT

The Woolworth Building, 233 Broadway, New York, NY 10279

Joel Cohen

Criminal, Corporate, Collection

Status: In Good Standing

CONTACT

Cherokee Station, New York, NY 10021

Mitchell R Friedman

Construction, Criminal, Corporate, Bankruptcy

Status: In Good Standing

CONTACT

11 Park Place, New York, NY 10007

S. Stewart Smith

Administrative Law, Bankruptcy, Commercial Bankruptcy, Consumer Bankruptcy

Status: In Good Standing

CONTACT

270 Madison Avenue, New York, NY 10016

Talaiya Ahmed

Alimony & Spousal Support, Corporate, Collection, Divorce

Status: In Good Standing

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415 Madison Avenue, New York, NY 10017

800-923-0641

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LEGAL TERMS

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

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 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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Santa Claus Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Richard A. Kraus

David Ian Pankin

Jennifer A. Schwartz

Jamie B. Chapman

Edward G. Baer

Patricia L. Martin-Gibbons

Joel Cohen

Mitchell R Friedman

S. Stewart Smith

Talaiya Ahmed

TIPS

LEGAL TERMS

SECURED DEBT

DOING BUSINESS AS (DBA)

HOUSEHOLDER

TRADE DRESS

CREDIT REPORT

CHAPTER 13 PLAN

REAFFIRMATION

SOLE PROPRIETORSHIP

NONEXEMPT PROPERTY

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