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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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Bruce S. Scolton

Alimony & Spousal Support, Corporate, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

414 E. Fairmount Avenue, Lakewood, NY 14750

Charles Salvatore Deangelo

Child Custody, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 43 Years

CONTACT

81 Forest Ave, Jamestown, NY 14701

Craig Edward Jackson

Government, Divorce & Family Law, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 23 Years

CONTACT

500 Pine St, Jamestown, NY 14701

James Edward Westman

Employee Rights, Family Law, Divorce & Family Law, Collection, Personal Injury

Status: In Good Standing Licensed: 48 Years

CONTACT

300 E 6Th St, Jamestown, NY 14701

Matthea W. Ross

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

202 W 4Th St, Jamestown, NY 14701

Richard Hunt Fessenden

Real Estate, Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

Jamestown, NY 14702

Robert A. Liebers

Real Estate, Child Custody, Criminal, Bankruptcy

Status: Deceased Licensed: 41 Years

CONTACT

15 E 5Th St, Jamestown, NY 14701

Scott Frederick Humble

Divorce, Divorce & Family Law, DUI-DWI, Criminal, Bankruptcy & Debt

Status: In Good Standing

CONTACT

7 Jackson Ave Ne, Jamestown, NY 14701

Stephen James Wright

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

525 Fairmount Ave, Jamestown, NY 14701

Thomas Arthur Dorey

Divorce & Family Law, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 47 Years

CONTACT

Lakewood, NY 14750

800-923-0641

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LEGAL TERMS

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

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.

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.

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.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

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Fluvanna Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Bruce S. Scolton

Charles Salvatore Deangelo

Craig Edward Jackson

James Edward Westman

Matthea W. Ross

Richard Hunt Fessenden

Robert A. Liebers

Scott Frederick Humble

Stephen James Wright

Thomas Arthur Dorey

TIPS

LEGAL TERMS

UNSECURED DEBT

401(K) PLAN

CHAPTER 13 PLAN

AUTOMATIC STAY

NO-FAULT INSURANCE

SOLE PROPRIETORSHIP

FAIR LABOR STANDARDS ACT (FLSA)

PRESUMED ABUSE

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

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