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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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Steven Paul Bertolino

Commercial Real Estate, Criminal, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 30 Years

CONTACT

130 W Main St, East Islip, NY 11730

Cory John Covert

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

128 Carleton Ave, East Islip, NY 11730

Peter Seideman

Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 54 Years

CONTACT

130 W Main St, East Islip, NY 11730

Joseph L. Fritz

Landlord-Tenant, Industry Specialties, DUI-DWI, Credit & Debt

Status: In Good Standing Licensed: 52 Years

CONTACT

135 W Main St, East Islip, NY 11730

Russell F. Moran

Landlord-Tenant, Traffic, Litigation, Advertising, Credit & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

22 Suellen Rd, Islip, NY 11751

Ernest Martin Bongermino

Divorce & Family Law, Criminal, Civil & Human Rights, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

126 Carleton Ave, Islip Terrace, NY 11752

Francis James Loscalzo

Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

808 Providence Dr, Islip Terrace, NY 11752

Jeffrey Scott Panasci

Litigation, Divorce, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

28 Nassau Ave, Islip, NY 11751

Raymond Charles Baierlein

Commercial Real Estate, Litigation, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

CONTACT

85 W Main St, Bay Shore, NY 11706

Yvonne Lee Randazzo

Litigation, Divorce, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

120 4Th Ave, Bay Shore, NY 11706

800-923-0641

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LEGAL TERMS

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

CREDIT FILE

See credit report.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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Great River Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Steven Paul Bertolino

Cory John Covert

Peter Seideman

Joseph L. Fritz

Russell F. Moran

Ernest Martin Bongermino

Francis James Loscalzo

Jeffrey Scott Panasci

Raymond Charles Baierlein

Yvonne Lee Randazzo

TIPS

LEGAL TERMS

TOXIC TORT

FRAUDULENT TRANSFER

CREDIT FILE

DISPOSABLE INCOME

BULK SALES LAW

GUARANTOR

UNSECURED DEBT

BANKRUPTCY TRUSTEE

LOSS DAMAGE WAIVER (LDW)

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