St Albans 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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Bright Dae-Jung Limm

International, Business, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

146-08 Liberty Avenue, Jamaica, NY 11435

Joseph Gillette

Real Estate, Criminal, Bankruptcy

Status:

CONTACT

21548 Jamaica Ave, Queens Village, NY 11428

George Rayner Warner

Corporate, Business, Bankruptcy & Debt

Status: Licensed: 44 Years

CONTACT

8000 Utopia Pkwy, Jamaica, NY 11439

Ronald Paul Zinner

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

Status: Licensed: 31 Years

CONTACT

20507 Hillside Ave, Jamaica, NY 11423

Jjais A. Forde

Industry Specialties, Estate, Consumer Rights, Bankruptcy & Debt

Status:

CONTACT

814 W Merrick Road, Valley Stream, NY 11580

Muzammil Ahmad Jamil

Real Estate, Immigration, Estate, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

87 63 148Th St, Jamaica, NY 11435

Desiree Marie Claudio

Immigration, Family Law, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 15 Years

CONTACT

8936 Sutphin Blvd, Jamaica, NY 11435

Miguel A. Gonzalez

Bankruptcy & Debt

Status: Licensed: 35 Years

CONTACT

7847 223Rd St, Oakland Gardens, NY 11364

Anthony Robert Mordente

Real Estate, Business, Bankruptcy & Debt

Status:

CONTACT

16029 Union Tpke, Fresh Meadows, NY 11366

Richard Kistnen

Real Estate, Lawsuit & Dispute, Business, Bankruptcy & Debt

Status: Licensed: 16 Years

CONTACT

12822 Rockaway Blvd, South Ozone Park, NY 11420

800-923-0641

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LEGAL TERMS

CCCS

See Consumer Credit Counseling Service.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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St Albans Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Bright Dae-Jung Limm

Joseph Gillette

George Rayner Warner

Ronald Paul Zinner

Jjais A. Forde

Muzammil Ahmad Jamil

Desiree Marie Claudio

Miguel A. Gonzalez

Anthony Robert Mordente

Richard Kistnen

TIPS

LEGAL TERMS

CCCS

NONDISCHARGEABLE DEBTS

LIMITED PARTNERSHIP

PRESUMED ABUSE

DISCHARGE (OF DEBTS)

DEBIT CARD

WINDING UP

INTEREST

PRIORITY DEBT

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