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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Janet Cohen Sorrentino

Immigration, Family Law, Elder Law, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

960 Bellmore Ave, Bellmore, NY 11710

Kenneth Jay Halpern

Consumer Bankruptcy, Bankruptcy Litigation, Bankruptcy

Status: Licensed: 56 Years

CONTACT

1 Old Country Rd, Carle Place, NY 11514

Carl G. Cohen

International, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: Licensed: 64 Years

CONTACT

1 Old Country Rd, Carle Place, NY 11514

Floyd G. Grossman

Commercial Real Estate, Litigation, Bankruptcy, Medical Malpractice

Status: Licensed: 50 Years

CONTACT

1 Old County Road, Carle Place, NY 11514

Howard D. Weisinger

Real Estate, Criminal, Bankruptcy, Bankruptcy & Debt, Industry Specialties

Status: Licensed: 37 Years

CONTACT

393 Old Country Rd, Carle Place, NY 11514

Edward Jerome Waldman

International, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 56 Years

CONTACT

393 Old Country Rd, Carle Place, NY 11514

Kenneth Patrick Warner

Real Estate, Motor Vehicle, Consumer Protection, Collection

Status: Licensed: 33 Years

CONTACT

55 Cherry Ln, Carle Place, NY 11514

Lance Aaron Schildkraut

Real Estate, Litigation, Government, Bankruptcy & Debt

Status: Licensed: 27 Years

CONTACT

55 Cherry Ln, Carle Place, NY 11514

Randy Edward Kleinman

Bankruptcy, Employee Rights, Employee Rights

Status: Licensed: 12 Years

CONTACT

1 Old Country Rd, Carle Place, NY 11514

Luigi Vigliotti

Criminal, Bankruptcy & Debt

Status:

CONTACT

315 Westbury Ave, Carle Place, NY 11514

800-923-0641

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LEGAL TERMS

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.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

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.

DISCHARGE (OF DEBTS)

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

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Janet Cohen Sorrentino

Kenneth Jay Halpern

Carl G. Cohen

Floyd G. Grossman

Howard D. Weisinger

Edward Jerome Waldman

Kenneth Patrick Warner

Lance Aaron Schildkraut

Randy Edward Kleinman

Luigi Vigliotti

TIPS

LEGAL TERMS

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

CREDIT REPORT

GARNISHMENT

S CORPORATION

BULK SALES LAW

LIMITED LIABILITY

DISCHARGE (OF DEBTS)

FAIR CREDIT BILLING ACT (FCBA)

DISCHARGEABLE DEBTS

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