Westchester Bankruptcy & Debt Lawyer, Illinois

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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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Vincent C. Machroli

✓ VERIFIED

Divorce & Family Law, Paternity, Estate Planning, Bankruptcy, Criminal

OVER 30 YEARS OF EXPERIENCE IN FAMILY LAW, ESTATE PLANNING, REAL ESTATE, AND BANKRUPTCY LAW At the Law Office of Vincent C. Machroli, P.C., we are ... (more)

FREE CONSULTATION

CONTACT

708-449-7404

4415 Harrison St, Hillside, IL 60162

Robert Schaller

✓ VERIFIED

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

WILLS, TRUSTS, PROBATE & TAX ATTORNEY & REGISTERED CPA | EXPECT THE BEST | 37+ YEARS OF EXPERIENCE

Attorney Robert Schaller treats every client like family, giving them the time and personal attention they deserve. The law firm offers both in-office... (more)

FREE CONSULTATION

CONTACT

630-655-1233

700 Commerce Drive, Oak Brook, IL 60523

Charles E. Covey

Bankruptcy, Bankruptcy & Debt, Federal Appellate Practice

Status: In Good Standing

CONTACT

10560 W Cermak, Westchester, IL 60154

Charles Edwin Covey

Bankruptcy, Bankruptcy & Debt, Federal Appellate Practice

Status: In Good Standing

CONTACT

10560 W Cermak, Westchester, IL 60154

Charles Covey

Bankruptcy, Bankruptcy & Debt, Federal Appellate Practice

Status: In Good Standing

CONTACT

10560 W Cermak, Westchester, IL 60154

Jigar K. Patel

Bankruptcy, Personal Injury, Estate Planning, Litigation

Status: In Good Standing

CONTACT

10560 W. Cermak Rd., Westchester, IL 60154

Jigar Patel

Immigration, Divorce & Family Law, Bankruptcy, Business & Trade

Status: In Good Standing

CONTACT

10560 W. Cermak Rd., Westchester, IL 60154

Joseph Anthony Serpico

Divorce, DUI-DWI, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 46 Years

CONTACT

10525 West Cermak Road, Westchester, IL 60154

Joseph Serpico

Divorce, DUI-DWI, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 46 Years

CONTACT

10525 West Cermak Road, Westchester, IL 60154

Randall Bruce Hribal

Workers' Compensation, Civil Rights, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 32 Years

CONTACT

10500 West Cermak Road, Westchester, IL 60154

800-923-0641

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LEGAL TERMS

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

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.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

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.

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Westchester Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Vincent C. Machroli

Robert Schaller

Charles E. Covey

Charles Edwin Covey

Charles Covey

Jigar K. Patel

Jigar Patel

Joseph Anthony Serpico

Joseph Serpico

Randall Bruce Hribal

TIPS

LEGAL TERMS

DISCHARGE (OF DEBTS)

ADMINISTRATIVE EXPENSES

REAFFIRMATION

CHAPTER 13 PLAN

CREDIT BUREAU

REPOSSESSION

401(K) PLAN

DOING BUSINESS AS (DBA)

FRAUDULENT TRANSFER

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