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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Randi Beth Gilbert

Real Estate, Government, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

11 Hillside Ave, Williston Park, NY 11596

Michael C. Adges

Real Estate, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

105 Hillside Ave, Williston Park, NY 11596

Anthony Adam Capetola

International, Child Support, Felony, Bankruptcy & Debt

Status: In Good Standing Licensed: 54 Years

CONTACT

2 Hillside Ave, Williston Park, NY 11596

Richard T. Walsh

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

11 Hillside Ave, Williston Park, NY 11596

Kristen Marie Mitaritonna

Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

200 I U Willets Road, Albertson, NY 11507

Thomas James Mcgowan

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing

CONTACT

190 Willis Ave, Mineola, NY 11501

Rachael Renee Whalen

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

Status: In Good Standing Licensed: 16 Years

CONTACT

262 Old Country Rd, Mineola, NY 11501

Rachael Renee Whalen

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

Status: In Good Standing Licensed: 16 Years

CONTACT

262 Old Country Rd, Mineola, NY 11501

Gerard Michael Gallagher

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

98 Willis Ave, Mineola, NY 11501

Joseph Capobianco

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

Status: In Good Standing Licensed: 39 Years

CONTACT

200 Old Country Rd, Mineola, NY 11501

800-923-0641

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LEGAL TERMS

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

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.

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.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Randi Beth Gilbert

Michael C. Adges

Anthony Adam Capetola

Richard T. Walsh

Kristen Marie Mitaritonna

Thomas James Mcgowan

Rachael Renee Whalen

Rachael Renee Whalen

Gerard Michael Gallagher

Joseph Capobianco

TIPS

LEGAL TERMS

INTEREST

PRIORITY DEBT

DEFINED CONTRIBUTION PLAN

GENERAL PARTNER

GARNISHMENT

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

AUTOMATIC STAY

GRACE PERIOD

UNSECURED DEBT

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