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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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Bernard D. Levine

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Bankruptcy & Debt, Estate, Real Estate, DUI-DWI, Divorce & Family Law

Bernard D. Levine is a practicing lawyer in the state of New York.

CONTACT

800-736-0841

70 Linden Oaks Office Park, Rochester, NY 14625

Kenneth Gallant

Bankruptcy & Debt, Bankruptcy, Credit & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

1425 Jefferson Road, Rochester, NY 14623

David G Wallace

Adoption, Bankruptcy, Child Support, Criminal

Status: In Good Standing

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108 E. Steuben Street, Bath, NY 14810

Dennis R. Dawson

Bankruptcy

Status: In Good Standing Licensed: 46 Years

CONTACT

Geneseo, NY 14454

John R. Scura

Real Estate, Government, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 57 Years

CONTACT

131 Main St, Dansville, NY 14437

John Francis Leyden

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 50 Years

CONTACT

Wayland, NY 14572

Marcea Clark Tetamore

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

Status: In Good Standing Licensed: 33 Years

CONTACT

Avon, NY 14414

Heather Engel

General Practice

Status: Inactive Licensed: 30 Years

CONTACT

16 Old French Rd, Honeoye Falls, NY 14472

Heather C. Engel

General Practice

Status: Inactive Licensed: 30 Years

CONTACT

16 Old French Rd, Honeoye Falls, NY 14472

John Anthony Polimeni

Natural Resources, Contract, Bankruptcy, Medical Malpractice

Status: In Good Standing Licensed: 38 Years

CONTACT

540 S Main St, Canandaigua, NY 14424

800-923-0641

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LEGAL TERMS

CREDIT FILE

See credit report.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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Conesus Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Bernard D. Levine

Kenneth Gallant

David G Wallace

Dennis R. Dawson

John R. Scura

John Francis Leyden

Marcea Clark Tetamore

Heather Engel

Heather C. Engel

John Anthony Polimeni

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LEGAL TERMS

CREDIT FILE

REDEMPTION

LIMITED LIABILITY

IRS EXPENSES

UNSECURED DEBT

HOUSEHOLDER

PRIORITY DEBT

NONDISCHARGEABLE DEBTS

WINDING UP

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