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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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Lee Matthew Van Houten

Alimony & Spousal Support, Bankruptcy, Collection, Criminal

Status:

CONTACT

104-114 North Cayuga Street, Ithaca, NY 14850

Michael Salvatore Fauci

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

Status: Licensed: 31 Years

CONTACT

6 Washington Ave, Endicott, NY 13760

Charles M. Fox

Government, Business, Bankruptcy & Debt

Status: Licensed: 41 Years

CONTACT

212 Meeker Rd, Vestal, NY 13850

John Henry Hartman

Lawsuit & Dispute, Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 51 Years

CONTACT

450 Plaza Dr, Vestal, NY 13850

Ryan Peter Wagenleitner

Gift Taxation, Bankruptcy, Class Action, Antitrust

Status: Licensed: 16 Years

CONTACT

2300 Hemlock Ln, Vestal, NY 13850

Lawrence Leclair

Lawsuit & Dispute, Bankruptcy & Debt, Accident & Injury

Status: Licensed: 44 Years

CONTACT

One W Church Street, Elmira, NY 14901

Andrew Edward Stage

Bankruptcy

Status: Licensed: 16 Years

CONTACT

450 West Second Street, Elmira, NY 14901

Mark David Spinner

Telecommunications, Credit & Debt, Collection, Bankruptcy

Status: Licensed: 26 Years

CONTACT

Binghamton, NY 13902

Lauren S. Cohen

Family Law, Child Support, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 43 Years

CONTACT

830 Oakdale Road, Johnson City, NY 13790

William James Casey

Civil Rights, Children's Rights, Contract, Bankruptcy

Status: Licensed: 17 Years

CONTACT

520 Columbia Dr, Johnson City, NY 13790

800-923-0641

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

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.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

FCBA

See Fair Credit Billing Act.

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.

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.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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Tioga Center Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lee Matthew Van Houten

Michael Salvatore Fauci

Charles M. Fox

John Henry Hartman

Ryan Peter Wagenleitner

Lawrence Leclair

Andrew Edward Stage

Mark David Spinner

Lauren S. Cohen

William James Casey

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

COLLECTION AGENCY

IRS EXPENSES

DEFINED CONTRIBUTION PLAN

FCBA

PRIORITY DEBT

FORBEARANCE

NONPROFIT CORPORATION

CHAPTER 7 BANKRUPTCY

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