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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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Heather Nicole Brondi

Real Estate, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

126 State St, Albany, NY 12207

Anthony Leopoldo Polizzi

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

Status: Licensed: 30 Years

CONTACT

110 State St, Albany, NY 12236

Joann Sternheimer

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

Status:

CONTACT

54 State St, Albany, NY 12207

Shannon De Maranville Frazier

Bankruptcy

Status:

CONTACT

20 Corporate Woods Blvd, Albany, NY 12211

Shannan Collier Krasnokutski

Arbitration, Credit & Debt, Employee Rights, Environmental Law Other

Status:

CONTACT

39 North Pearl Street, Albany, NY 12207

Rachel Ann Rappazzo

Divorce & Family Law, Bankruptcy & Debt, Accident & Injury

Status: Licensed: 21 Years

CONTACT

30 Clinton Ave, Albany, NY 12207

Jennifer Lynn Tsyn

Real Estate, Corporate, Business, Bankruptcy & Debt

Status: Licensed: 21 Years

CONTACT

22 Corporate Woods Blvd, Albany, NY 12211

Jorge Alberto Rodriguez

Collection, Commercial Bankruptcy, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 20 Years

CONTACT

8 Thurlow Ter, Albany, NY 12203

Adam Hill Cooper

Other, Real Estate, Collection, Accident & Injury

Status: Licensed: 20 Years

CONTACT

20 Corporate Woods Blvd, Albany, NY 12211

Jeremy Rosner Root

Real Estate, Business, Bankruptcy & Debt

Status: Licensed: 20 Years

CONTACT

54 State St, Albany, NY 12207

800-923-0641

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LEGAL TERMS

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.

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.

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.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

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).

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.

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

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Surprise Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Heather Nicole Brondi

Anthony Leopoldo Polizzi

Joann Sternheimer

Shannon De Maranville Frazier

Shannan Collier Krasnokutski

Rachel Ann Rappazzo

Jennifer Lynn Tsyn

Jorge Alberto Rodriguez

Adam Hill Cooper

Jeremy Rosner Root

TIPS

LEGAL TERMS

TRADE DRESS

IRS EXPENSES

WORKOUT

MEETING OF CREDITORS

CREDIT REPORT

SECURED DEBT

PRIORITY DEBT

BANKRUPTCY

DISCHARGEABLE DEBTS

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