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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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Joseph A. Episcopio

Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 21 Years

CONTACT

193 Jeffersonville North Branch Rd, Jeffersonville, NY 12748

Paul Damian Shaheen

Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

623 Granite Rd, Kerhonkson, NY 12446

Michael Nelson Chamberlain

General Practice

Status: In Good Standing Licensed: 44 Years

CONTACT

Kerhonkson, NY 12446

Theodore Richard Rogowski

Status: In Good Standing Licensed: 67 Years

CONTACT

1924 Beaverkill Rd, Livingston Manor, NY 12758

Michael O'Leary

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Middletown, NY 10940

Joseph J Haspel

Bankruptcy, Corporate, Credit & Debt, Litigation

Status: In Good Standing Licensed: 41 Years

CONTACT

39 Casimer Rd, Middletown, NY 10941

William Wesley Frame

Criminal, Litigation, Bankruptcy, Franchising

Status: In Good Standing Licensed: 20 Years

CONTACT

305 Sherwood Dr N, Middletown, NY 10941

David Jon Doyaga

Consumer Bankruptcy, Bankruptcy

Status: In Good Standing Licensed: 20 Years

CONTACT

280 Route 211 E, Middletown, NY 10940

Brian Christopher Fetzko

Criminal, Real Estate, Traffic, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

12 Evergreen Dr, Middletown, NY 10940

Patrick D. Hickey

Environmental Law Other, Elder Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 9 Years

CONTACT

1 Dolson Ave, Middletown, NY 10940

800-923-0641

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LEGAL TERMS

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

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.

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.

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.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

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.

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Fallsburg Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Joseph A. Episcopio

Paul Damian Shaheen

Michael Nelson Chamberlain

Theodore Richard Rogowski

Michael O'Leary

Joseph J Haspel

William Wesley Frame

David Jon Doyaga

Brian Christopher Fetzko

Patrick D. Hickey

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LEGAL TERMS

CREDIT REPORT

GARNISHMENT

INTEREST

NONPROFIT CORPORATION

ADMINISTRATIVE EXPENSES

COSIGNER

DISCHARGE (OF DEBTS)

WINDING UP

HOUSEHOLDER

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