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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 Freydin

International Tax, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

8707 Blvd, Skokie, IL 60077

David Freydin

International Tax, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

8707 Blvd, Skokie, IL 60077

Martha Helena Herrera

Estate Planning, Divorce, Collection, Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

8707 Blvd, Skokie, IL 60077

Arkadiusz Dobradin

Divorce, Securities Fraud , Collection, Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

8707 Skokie, Skokie, IL 60077

Kristen Elizabeth Griffin

Lawsuit & Dispute, Civil & Human Rights, Bankruptcy

Status: In Good Standing Licensed: 10 Years

CONTACT

8707 Skokie, Skokie, IL 60077

John Burke Wolf

Lawsuit & Dispute, Business, Bankruptcy & Debt, Collection

Status: In Good Standing Licensed: 20 Years

CONTACT

8707 N Blvd, Skokie, IL 60077

Mathew Robert Kerbis

Divorce, Securities Fraud , Collection, Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

8707 Skokie, Skokie, IL 60077

Ben Leo Schneider

Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

8424 Blvd, Skokie, IL 60077

Louis Joseph Wool

Collection

Status: In Good Standing Licensed: 33 Years

CONTACT

8445 Kedvale Ave, Skokie, IL 60076

Louis Wool

Collection

Status: In Good Standing Licensed: 33 Years

CONTACT

8445 Kedvale Ave, Skokie, IL 60076

800-923-0641

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LEGAL TERMS

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

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).

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

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.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

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Skokie Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David Freydin

David Freydin

Martha Helena Herrera

Arkadiusz Dobradin

Kristen Elizabeth Griffin

John Burke Wolf

Mathew Robert Kerbis

Ben Leo Schneider

Louis Joseph Wool

Louis Wool

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LEGAL TERMS

LIQUIDATING PARTNER

DISPOSABLE INCOME

GARNISHMENT

CREDIT REPORT

FRAUDULENT TRANSFER

NO-FAULT INSURANCE

TRUTH IN LENDING ACT (TILA)

GENERAL PARTNER

CREDIT BUREAU

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