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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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James G. Yastion

Corporate, Collection, Complex Litigation, Credit & Debt

Status:

CONTACT

10 Matthews Street, Goshen, NY 10924

Robert J. Buonomo

Bankruptcy, Business Organization, Insurance, Litigation

Status:

CONTACT

1997 State Route 17M, Goshen, NY 10924

Allan J. Ahearne

Bankruptcy, Products Liability, Personal Injury, Car Accident

Status: Licensed: 20 Years

CONTACT

25 Railroad Ave, Warwick, NY 10990

David Nicolle Hannigan

Criminal, Bankruptcy

Status: Licensed: 45 Years

CONTACT

62 N Main St, Florida, NY 10921

Deborah Ann Young

Real Estate, Contract, Bankruptcy & Debt

Status: Licensed: 34 Years

CONTACT

3 Forester Ave, Warwick, NY 10990

Douglas Michael Jones

Real Estate, Litigation, Medicare & Medicaid, Business, Bankruptcy & Debt

Status: Licensed: 34 Years

CONTACT

2 N Main St, Florida, NY 10921

Emil Robert Krahulik

Real Estate, Commercial Bankruptcy, Estate Planning

Status: Licensed: 66 Years

CONTACT

2 Bank St, Warwick, NY 10990

Emily Anne Cajigas

Real Estate, Government, Business, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

4 Jessup Rd, Warwick, NY 10990

Janet Anne Sommer

Real Estate, Bankruptcy & Debt

Status: Licensed: 33 Years

CONTACT

55 Onderdonk Rd, Warwick, NY 10990

Joseph J Reilly

Lawsuit & Dispute, Employment, Bankruptcy, Bankruptcy & Debt, Education

Status: Licensed: 23 Years

CONTACT

2002 Route 17M, Goshen, NY 10924

800-923-0641

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LEGAL TERMS

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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Warwick Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James G. Yastion

Robert J. Buonomo

Allan J. Ahearne

David Nicolle Hannigan

Deborah Ann Young

Douglas Michael Jones

Emil Robert Krahulik

Emily Anne Cajigas

Janet Anne Sommer

Joseph J Reilly

TIPS

LEGAL TERMS

COLLATERAL

SUBROGATION

CHAPTER 7 BANKRUPTCY

CHAPTER 13 PLAN

PREFERENCE

CYBERSQUATTING

ACCORD AND SATISFACTION

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

ABUSE

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