Wales Center Bankruptcy & Debt Lawyer, New York

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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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Derek Akiwumi

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

Derek Akiwumi, representing clients throughout WNY, has a proven reputation for getting the results you need. From criminal defense, appeals, and pers... (more)

CONTACT

800-711-9031

300 International Dr, Buffalo, NY 14221

Richard H. Cole

Alimony & Spousal Support, Bankruptcy, Criminal, Divorce

Status:

CONTACT

37 Franklin St., Buffalo, NY 14202

Jeffrey K. Moncher

Real Estate, Workers' Compensation, Divorce & Family Law, Bankruptcy & Debt

Status:

CONTACT

37 Franklin St., Buffalo, NY 14202

Ruth Rachel Wiseman

Bankruptcy & Debt, Wills & Probate, Residential Real Estate, Tax

Status: Licensed: 41 Years

CONTACT

9145 Main St, Clarence, NY 14031

Surinder Kaur Virk

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

Status: Licensed: 24 Years

CONTACT

300 International Drive, Williamsville, NY 14221

Daniel Wisher

Family Law, Bankruptcy

Status: Licensed: 21 Years

CONTACT

5678 Main St, Buffalo, NY 14221

Regina A. Walker

Social Security -- Disability, Employment, Bankruptcy

Status: Licensed: 29 Years

CONTACT

300 International Dr., Buffalo, NY 14221

Jeffrey A. Lazroe

General Practice

Status: Licensed: 53 Years

CONTACT

60 Rolling Meadow Ln, East Amherst, NY 14051

Richard John Biryla

Real Estate, Lawsuit & Dispute, Estate, Collection

Status: Licensed: 46 Years

CONTACT

14 Lafayette Square, Buffalo, NY 14203

Kyle Clark Didone

Real Estate, Government, DUI-DWI, Bankruptcy

Status: Licensed: 17 Years

CONTACT

424 Main Street, Buffalo, NY 14202

800-923-0641

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LEGAL TERMS

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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Wales Center Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Derek Akiwumi

Richard H. Cole

Jeffrey K. Moncher

Ruth Rachel Wiseman

Surinder Kaur Virk

Daniel Wisher

Regina A. Walker

Jeffrey A. Lazroe

Richard John Biryla

Kyle Clark Didone

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LEGAL TERMS

CURRENT MONTHLY INCOME

LIMITED PARTNERSHIP

AUTOMATIC STAY

SECURED DEBT

GUARANTOR

WINDING UP

UNDUE HARDSHIP

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

HOUSEHOLDER

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