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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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Michael C. Hoffman

Foreclosure, Civil & Human Rights, Bankruptcy, Personal Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

1225 Tower Avenue, Superior, WI 54880

James R. Phelan

Animal Bite, Corporate, Collection, Criminal

Status: In Good Standing

FREE CONSULTATION

CONTACT

1109 Tower Avenue, Superior, WI 54880

Shawn M. Dunlevy

Bankruptcy & Debt

Status: Retired Licensed: 44 Years

CONTACT

Gordon, WI 54838

Theodore Daniel Salzer

Credit & Debt, Family Law, Divorce & Family Law, Divorce

Status: In Good Standing Licensed: 36 Years

CONTACT

1225 Tower Ave, Superior, WI 54880

Stephen R. Bick

Banking & Finance, Bankruptcy, Corporate, Business Organization

Status: Retired Licensed: 38 Years

CONTACT

1109 Tower Avenue, Superior, WI 54880

Stephen R. Bick

Bankruptcy

Status: Retired Licensed: 48 Years

CONTACT

1109 Tower Avenue, Superior, WI 54880

Michael J. Karstens

DUI-DWI, Bankruptcy, Criminal

Status: In Good Standing Licensed: 20 Years

CONTACT

1109 Tower Ave, Superior, WI 54880

Karry A. Johnson

Real Estate, Estate, Business, Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

1109 Tower Ave, Superior, WI 54880

Michael F. Fauerbach

Lawsuit & Dispute, Government, Collection, Accident & Injury

Status: In Good Standing Licensed: 48 Years

CONTACT

200 Chapple Ave, Ashland, WI 54806

Joseph Edward Martell

Industry Specialties, Business, Collection, Bankruptcy & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

200 Chapple Ave, Ashland, WI 54806

800-923-0641

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LEGAL TERMS

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.

FCBA

See Fair Credit Billing Act.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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.

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.

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.

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.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

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Brule Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael C. Hoffman

James R. Phelan

Shawn M. Dunlevy

Theodore Daniel Salzer

Stephen R. Bick

Stephen R. Bick

Michael J. Karstens

Karry A. Johnson

Michael F. Fauerbach

Joseph Edward Martell

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LEGAL TERMS

DOING BUSINESS AS (DBA)

FCBA

LIABILITY

COSIGNER

S CORPORATION

FRAUDULENT TRANSFER

SUBROGATION

401(K) PLAN

DISPOSABLE INCOME

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