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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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Andrew J. Luskin

Dispute Resolution, Franchising, Business Organization, Collection

Status: In Good Standing

CONTACT

1010 Northern Blvd., Great Neck, NY 11021

Aaron D. Jones

Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

97 Powerhouse Rd, Greenvale, NY 11577

Adam Gross

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

900 Merchants Concourse, Old Westbury, NY 11590

Afsheen Shah

Real Estate, Health Care Other, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

111 Great Neck Rd, Great Neck, NY 11021

Amanda M. Baron-Frank

Bankruptcy & Debt, Real Estate, Accident & Injury, Criminal, Litigation

Status: In Good Standing

FREE CONSULTATION

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333 Glen Head Rd, Old Brookville, NY 11545

Andrew Martin Thaler

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

675 Old Country Rd, Old Westbury, NY 11590

Andrew Anthony Kress

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

41 Summit Rd, Port Washington, NY 11050

Cary Martin Hirshon

Divorce & Family Law, Criminal, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

6 Garden St, Great Neck, NY 11021

Cesar Zuniga

Estate Planning, Personal Injury, Bankruptcy & Debt, Commercial Real Estate, Mass Torts

Status: In Good Standing Licensed: 21 Years

FREE CONSULTATION

CONTACT

40 Cuttermill Road, Great Neck, NY 11021

Charles Arthur Singer

Tax, Immigration, Estate, Corporate, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

11 Middle Neck Rd, Great Neck, NY 11021

800-923-0641

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LEGAL TERMS

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

CREDIT FILE

See credit report.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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Sea Cliff Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Andrew J. Luskin

Aaron D. Jones

Adam Gross

Afsheen Shah

Amanda M. Baron-Frank

Andrew Martin Thaler

Andrew Anthony Kress

Cary Martin Hirshon

Cesar Zuniga

Charles Arthur Singer

TIPS

LEGAL TERMS

DEBIT CARD

FORBEARANCE

CREDIT FILE

REDEMPTION

UNSECURED DEBT

ABUSE

LIMITED LIABILITY

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

IRS EXPENSES

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