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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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William J. Factor

Government, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

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1363 Shermer Road, Northbrook, IL 60062

David P. Holtkamp

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

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1363 Shermer Road, Northbrook, IL 60062

Howard Peritz

Bankruptcy & Debt, Divorce & Family Law, Bankruptcy, Divorce, Estate

Status: In Good Standing Licensed: 41 Years

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5 Revere Drive, Northbrook, IL 60062

Jennifer Gedville

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 25 Years

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1849 Green Bay Rd, Highland Park, IL 60035

Jennifer J. Gedville

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 25 Years

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1849 Green Bay Rd, Highland Park, IL 60035

James A. Kaplan

Corporate, Bankruptcy, Real Estate

Status: In Good Standing

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1155 Ridgewood Drive, Highland Park, IL 60035

Steven Howard Lavin

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 47 Years

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1849 Green Bay Rd, Highland Park, IL 60035

Steven Lavin

Litigation, Estate Planning, Business, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

1849 Green Bay Rd, Highland Park, IL 60035

John Sheldon

Litigation, International Tax, Estate, Bankruptcy

Status: In Good Standing

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500 Skokie Blvd, Northbrook, IL 60062

John Matthew Sheldon

Litigation, Lawsuit & Dispute, International Tax, Bankruptcy

Status: In Good Standing

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500 Skokie Blvd, Northbrook, IL 60062

800-923-0641

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LEGAL TERMS

FDCPA

See Fair Debt Collections & Practices Act.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

FCRA

See Fair Credit Reporting Act.

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.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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.

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.

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.

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Highland Park Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

William J. Factor

David P. Holtkamp

Howard Peritz

Jennifer Gedville

Jennifer J. Gedville

James A. Kaplan

Steven Howard Lavin

Steven Lavin

John Sheldon

John Matthew Sheldon

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LEGAL TERMS

FDCPA

PRIORITY DEBT

MEETING OF CREDITORS

FCRA

SOLE PROPRIETORSHIP

CHAPTER 13 BANKRUPTCY

GUARANTOR

INFRINGEMENT (OF TRADEMARK)

FAIR LABOR STANDARDS ACT (FLSA)

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