Williston Park 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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Jerry Merola

Tax, Bankruptcy & Debt, Criminal, Business

Status: In Good Standing

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91 N. Franklin Street, Hempstead, NY 11550

Howard D. Weisinger

Real Estate, Criminal, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

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393 Old Country Rd, Carle Place, NY 11514

James Pennington Truitt

Commercial Real Estate, Commercial Leasing, Commercial Insurance, Collection

Status: In Good Standing Licensed: 24 Years

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300 Garden City Plaza, Garden City, NY 11530

Lee Alan Weiss

Litigation, Employee Rights, Securities, Consumer Bankruptcy

Status: In Good Standing Licensed: 33 Years

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585 Stewart Ave, Garden City, NY 11530

Scott Adam Steinberg

Commercial Real Estate, Corporate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 41 Years

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190 Willis Ave, Mineola, NY 11501

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

Status: In Good Standing

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1122 Franklin Ave, Garden City, NY 11530

Robert David Aronin

Business & Trade, Commercial Bankruptcy, Litigation

Status: In Good Standing Licensed: 35 Years

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100 Garden City Plaza, Garden City, NY 11530

Amanda Rose Lamberson

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

Status: In Good Standing

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400 Garden City Plaza, Garden City, NY 11530

Sofia S. Fayer

Residential Real Estate, Real Estate, Commercial Bankruptcy

Status: In Good Standing Licensed: 21 Years

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400 Garden City Plaza, Garden City, NY 11530

Arnold M. Bottalico

Foreclosure, Mass Torts, Insurance, Bankruptcy, Personal Injury

Status: In Good Standing

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1225 Franklin Ave, Garden City, NY 11530

800-923-0641

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LEGAL TERMS

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.

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.

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.

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.

CREDIT FILE

See credit report.

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.

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.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

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Williston Park Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jerry Merola

Howard D. Weisinger

James Pennington Truitt

Lee Alan Weiss

Scott Adam Steinberg

Mary Ann Catalano

Robert David Aronin

Amanda Rose Lamberson

Sofia S. Fayer

Arnold M. Bottalico

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LEGAL TERMS

SECURED DEBT

MEANS TEST

GUARANTOR

AUTOMATIC STAY

CREDIT FILE

REPOSSESSION

WINDING UP

C CORPORATION

LIMITED LIABILITY

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