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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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Barbara A. Whipple

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

Status: In Good Standing Licensed: 26 Years

CONTACT

284 State St, Albany, NY 12210

Brendan J. Carosi

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing

CONTACT

80 State St, Albany, NY 12207

Brett Daniel French

Education, Commercial Real Estate, Commercial Bankruptcy, Litigation

Status: In Good Standing Licensed: 9 Years

CONTACT

39 N Pearl St, Albany, NY 12207

Brian J. Mccann

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

Washington Ave, Albany, NY 12227

Brian J. Mccann

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

Washington Ave, Albany, NY 12227

Bruce Charles Bramley

Landlord-Tenant, Government, Criminal, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

230 Washington Avenue Ext, Albany, NY 12203

Caitlin Donovan

Lawsuit & Dispute, Child Custody, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

677 Broadway, Albany, NY 12207

Cameron James Macdonald

Commercial Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

69 State St, Albany, NY 12207

Carl Rosenbloom

Lawsuit & Dispute, Bankruptcy, Personal Injury, Medical Malpractice

Status: In Good Standing Licensed: 61 Years

CONTACT

28 2Nd St, Troy, NY 12180

Charles Terry Kriss

Landlord-Tenant, Wills & Probate, Employment Discrimination, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

350 Northern Blvd, Albany, NY 12204

800-923-0641

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LEGAL TERMS

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

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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Troy Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Barbara A. Whipple

Brendan J. Carosi

Brett Daniel French

Brian J. Mccann

Brian J. Mccann

Bruce Charles Bramley

Caitlin Donovan

Cameron James Macdonald

Carl Rosenbloom

Charles Terry Kriss

TIPS

LEGAL TERMS

C CORPORATION

NONEXEMPT PROPERTY

SUBROGATION

COLLATERAL

FRAUDULENT TRANSFER

SOLE PROPRIETORSHIP

CREDIT COUNSELING

COLLECTION AGENCY

DISCHARGEABLE DEBTS

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