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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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Jerrold W. Bartman

Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

409 New Karner Road, Albany, NY 12205

Alexis Elizabeth Kim

Litigation, Contract, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 9 Years

CONTACT

200 Great Oaks Blvd, Albany, NY 12203

Anthony J Pietrafesa

Bankruptcy & Debt, Consumer Rights, Defect and Lemon Law, Deceptive Trade Practices, Landlord-Tenant

Status: In Good Standing

FREE CONSULTATION

CONTACT

1971 Western Av #181, Albany, NY 12203

Bruce Charles Bramley

Landlord-Tenant, Government, Criminal, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

230 Washington Avenue Ext, Albany, NY 12203

Christopher A. Priore

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

200 Great Oaks Blvd, Albany, NY 12203

Christopher James Dewitt

Federal Appellate Practice, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

20 Hurst Ave, Albany, NY 12208

Conor Eric Brownell

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1 Columbia Cir, Albany, NY 12203

Erika Catherine Browne

Litigation, Civil Rights, Corporate, Commercial Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

255 Washington Avenue Ext, Albany, NY 12205

George Samuel King

Motor Vehicle, Bankruptcy, Immigration

Status: In Good Standing Licensed: 50 Years

CONTACT

Albany, NY 12205

Helene Clare Lester

Mediation, Lawsuit & Dispute, Collection, Bankruptcy & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

8 Thurlow Ter, Albany, NY 12203

800-923-0641

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LEGAL TERMS

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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.

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Guilderland Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jerrold W. Bartman

Alexis Elizabeth Kim

Anthony J Pietrafesa

Bruce Charles Bramley

Christopher A. Priore

Christopher James Dewitt

Conor Eric Brownell

Erika Catherine Browne

George Samuel King

Helene Clare Lester

TIPS

LEGAL TERMS

SECURED DEBT

LIQUIDATING PARTNER

SUBROGATION

CREDIT COUNSELING

SOLE PROPRIETORSHIP

FORBEARANCE

CURRENT MONTHLY INCOME

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

INFRINGEMENT (OF TRADEMARK)

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