East Setauket Bankruptcy & Debt Lawyer, New York

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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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Aida Saba Cavooris

Civil Rights, International Tax, Bankruptcy, Contract, Personal Injury

Status: In Good Standing Licensed: 24 Years

CONTACT

100 S Jersey Ave, East Setauket, NY 11733

Anneris Marlene Pena

Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

East Setauket, NY 11733

Brian Morris

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

Status: In Good Standing Licensed: 20 Years

CONTACT

2233 Nesconset Hwy, Lake Grove, NY 11755

Brian Brendan Mulholland

Collection, Bankruptcy

Status: In Good Standing Licensed: 48 Years

CONTACT

71 Champlain St, Port Jefferson Station, NY 11776

Charles Joseph Fisher

Real Estate, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1031 Main St, Port Jefferson, NY 11777

Charles Jeffery Gleis

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

Status: In Good Standing Licensed: 17 Years

CONTACT

551 Route 25A, Saint James, NY 11780

Edward W. Jakubowski

Family Law, Commercial Real Estate, Commercial Bankruptcy, Business & Trade

Status: In Good Standing Licensed: 57 Years

CONTACT

969 Middle Country Rd, Saint James, NY 11780

Howard Adam Wurman

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

Status: Inactive Licensed: 28 Years

CONTACT

6 Roosevelt Ave, Port Jefferson Station, NY 11776

James Peter Deana

Other, Real Estate, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 23 Years

CONTACT

47 Route 25A, East Setauket, NY 11733

Kenneth Alan Jacoppi

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 59 Years

CONTACT

23 Woodhull Rd, East Setauket, NY 11733

800-923-0641

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LEGAL TERMS

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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East Setauket Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Aida Saba Cavooris

Anneris Marlene Pena

Brian Morris

Brian Brendan Mulholland

Charles Joseph Fisher

Charles Jeffery Gleis

Edward W. Jakubowski

Howard Adam Wurman

James Peter Deana

Kenneth Alan Jacoppi

TIPS

LEGAL TERMS

WINDING UP

PREFERENCE

SOLE PROPRIETORSHIP

INFRINGEMENT (OF TRADEMARK)

DISCHARGEABLE DEBTS

REAFFIRMATION

LIMITED LIABILITY

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

PRESUMED ABUSE

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