Crystal Lake Bankruptcy & Debt Lawyer, Illinois

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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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Timothy Peter Brown

Litigation, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

71 Pine Ct, Crystal Lake, IL 60014

Cynthia Briscoe

Commercial Real Estate, Divorce & Family Law, Transactions, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

210 North Walkup Ave, Crystal Lake, IL 60014

Steven Jay Brody

Family Law, Divorce, Divorce & Family Law, Bankruptcy

Status: In Good Standing

CONTACT

15 W Woodstock Street, Crystal Lake, IL 60014

Kristen Serna

Litigation, Divorce & Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

333 Commerce Drive, Crystal Lake, IL 60014

David Robert Gervais

Divorce, Civil Rights, Collection, Personal Injury

Status: In Good Standing

CONTACT

Mchenry County Government Ctr, Crystal Lake, IL 60098

David Gervais

Divorce, Civil Rights, Collection, Personal Injury

Status: In Good Standing

CONTACT

Mchenry County Government Ctr, Crystal Lake, IL 60098

Natalie Leah Pesin

Divorce & Family Law, Bankruptcy, Contract, Corporate

Status: In Good Standing Licensed: 10 Years

CONTACT

101 N. Virginia Street, Crystal Lake, IL 60014

James Patrick Kelly

Federal Appellate Practice, Family Law, Divorce, Business & Trade, Bankruptcy

Status: In Good Standing

CONTACT

1301 Pyott Rd, Lake In The Hills, IL 60156

Scott William Brammer

Consumer Bankruptcy, Residential Real Estate, Wills, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

5447 W. Bull Valley Road, Mchenry, IL 60050

Scott Alan Bentley

Real Estate, Criminal, Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 40 Years

CONTACT

5435 Bull Valley Road, Mchenry, IL 60050

800-923-0641

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LEGAL TERMS

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

CCCS

See Consumer Credit Counseling Service.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

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.

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.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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Crystal Lake Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Timothy Peter Brown

Cynthia Briscoe

Steven Jay Brody

Kristen Serna

David Robert Gervais

David Gervais

Natalie Leah Pesin

James Patrick Kelly

Scott William Brammer

Scott Alan Bentley

TIPS

LEGAL TERMS

CHAPTER 13 PLAN

S CORPORATION

LIEN

CCCS

ACCORD AND SATISFACTION

FAIR LABOR STANDARDS ACT (FLSA)

GARNISHMENT

GENERAL PARTNER

NONPROFIT CORPORATION

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