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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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Lee Matthew Van Houten

Alimony & Spousal Support, Bankruptcy, Collection, Criminal

Status: In Good Standing

CONTACT

104-114 North Cayuga Street, Ithaca, NY 14850

George D. Patte

Corporate, Contract, Business Organization, Bankruptcy

Status: In Good Standing

CONTACT

121 East Buffalo Street, Ithaca, NY 14850

Richard P. Ruswick

Bankruptcy, Corporate, Business Organization, Construction

Status: In Good Standing

CONTACT

401 E. State St., Ithaca, NY 14850

Raja Narayanswami Sekharan

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

Status: In Good Standing Licensed: 30 Years

CONTACT

60 Central Ave, Cortland, NY 13045

Raja N. Sekharan

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

Status: In Good Standing

CONTACT

60 Central Ave, Cortland, NY 13045

Keith D. Dayton

Military & Veterans Appeals, Motor Vehicle, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

20 Groton Avenue, Cortland, NY 13045

Francis James Casullo

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

Status: In Good Standing Licensed: 34 Years

CONTACT

16 Tompkins St, Cortland, NY 13045

Thomas Hobson Miller

Lawsuit & Dispute, Consumer Rights, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 35 Years

CONTACT

Cortland, NY 13045

Thomas Hobson Miller

Lawsuit & Dispute, Consumer Rights, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 35 Years

CONTACT

Cortland, NY 13045

Gerald D. Raymond

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

Status: In Good Standing Licensed: 33 Years

CONTACT

60 Central Avenue, Cortland, NY 13045

800-923-0641

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LEGAL TERMS

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

FDCPA

See Fair Debt Collections & Practices Act.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

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Cortland Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lee Matthew Van Houten

George D. Patte

Richard P. Ruswick

Raja Narayanswami Sekharan

Raja N. Sekharan

Keith D. Dayton

Francis James Casullo

Thomas Hobson Miller

Thomas Hobson Miller

Gerald D. Raymond

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LEGAL TERMS

LIMITED PARTNERSHIP

FDCPA

CREDITOR

SETOFF

ADMINISTRATIVE EXPENSES

SUBROGATION

GUARANTEED RESERVATION

WORKOUT

DEFINED CONTRIBUTION PLAN

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