Valley Stream Bankruptcy & Debt Lawyer, New York, page 2

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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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Danny D. De Voe

Bankruptcy & Debt, Business, Collection, Estate

Status: In Good Standing Licensed: 18 Years

CONTACT

1325 Franklin Ave., Garden City, NY 11530

Joseph Gillette

Real Estate, Criminal, Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

21548 Jamaica Ave, Queens Village, NY 11428

James Pennington Truitt

Commercial Real Estate, Commercial Leasing, Commercial Insurance, Collection

Status: In Good Standing Licensed: 24 Years

CONTACT

300 Garden City Plaza, Garden City, NY 11530

Jacqueline M. Della Chiesa

Bankruptcy & Debt, Foreclosure, Credit & Debt, Litigation

Status: In Good Standing

CONTACT

401 Franklin Avenue, Garden City, NY 11530

Sofia S. Fayer

Residential Real Estate, Real Estate, Commercial Bankruptcy

Status: In Good Standing Licensed: 21 Years

CONTACT

400 Garden City Plaza, Garden City, NY 11530

Arnold M. Bottalico

Foreclosure, Mass Torts, Insurance, Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

1225 Franklin Ave, Garden City, NY 11530

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

Status: In Good Standing

CONTACT

1122 Franklin Ave, Garden City, NY 11530

Sidney Price

Bankruptcy & Debt, Divorce & Family Law, Estate, Lawsuit & Dispute

Status: In Good Standing Licensed: 71 Years

CONTACT

729 Sherwood St, Valley Stream, NY 11581

Amanda Rose Lamberson

Litigation, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

400 Garden City Plaza, Garden City, NY 11530

John Michael Tangel

Accident & Injury, Bankruptcy, Lawsuit & Dispute, Real Estate, Foreclosure

Status: In Good Standing Licensed: 31 Years

CONTACT

215 Hilton Avenue, Hempstead, NY 11550

800-923-0641

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LEGAL TERMS

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

CCCS

See Consumer Credit Counseling Service.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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Valley Stream Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Danny D. De Voe

Joseph Gillette

James Pennington Truitt

Jacqueline M. Della Chiesa

Sofia S. Fayer

Arnold M. Bottalico

Mary Ann Catalano

Sidney Price

Amanda Rose Lamberson

John Michael Tangel

TIPS

LEGAL TERMS

BULK SALES LAW

ADMINISTRATIVE EXPENSES

TRUTH IN LENDING ACT (TILA)

PREFERENCE

CCCS

SECURED DEBT

COLLATERAL

MEANS TEST

401(K) PLAN

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