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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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Jeremy Joseph Geisel

Family Law, Collection, Labor Law, Child Support

Status: In Good Standing

CONTACT

N14 W23755 Stone Ridge Drive, Waukesha, WI 53188

Erika A. Miller

Bankruptcy, Criminal, DUI-DWI, Divorce

Status: In Good Standing

FREE CONSULTATION

CONTACT

2727 Grandview Boulevard, Waukesha, WI 53188

Beth M Brockmeyer

Commercial Bankruptcy, Consumer Bankruptcy, Credit & Debt

Status: In Good Standing

CONTACT

N14 W24200 Tower Place, Waukesha, WI 53188

Patricia A. Kujawa

Lawsuit & Dispute, Divorce & Family Law, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 44 Years

CONTACT

110W30520 YMCA Camp Rd, Mukwonago, WI 53149

Thomas J Schneck

Estate Planning, Family Law, Criminal, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

707 W. Moreland Boulevard, Waukesha, WI 53188

Frank M. Cappozzo

Estate, Divorce, Divorce & Family Law, Collection

Status: In Good Standing Licensed: 50 Years

CONTACT

511 North Grand Avenue, Waukesha, WI 53187

Nicholas Martinez

Immigration, Wills & Probate, DUI-DWI, Bankruptcy & Debt

Status: In Good Standing

CONTACT

910 Clinton St, Waukesha, WI 53186

J Steven Tikalsky

Criminal, Insurance, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

300 Wisconsin Ave, Waukesha, WI 53186

James F. Daly

Estate, Environmental Law Other, Civil & Human Rights, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

4640 N Woodburn St, Milwaukee, WI 53211

John W. Daniels

Real Estate, Environmental Law Other, Business, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

411 E Wisconsin Ave, Milwaukee, WI 53202

800-923-0641

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LEGAL TERMS

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.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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.

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.

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.

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Genesee Depot Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jeremy Joseph Geisel

Erika A. Miller

Beth M Brockmeyer

Patricia A. Kujawa

Thomas J Schneck

Frank M. Cappozzo

Nicholas Martinez

J Steven Tikalsky

James F. Daly

John W. Daniels

TIPS

LEGAL TERMS

401(K) PLAN

GUARANTEED RESERVATION

NONDISCHARGEABLE DEBTS

C CORPORATION

UNDUE HARDSHIP

ABUSE

LIMITED PARTNERSHIP

SOLE PROPRIETORSHIP

REAFFIRMATION

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