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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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George D. Patte

Corporate, Contract, Business Organization, Bankruptcy

Status: In Good Standing

CONTACT

121 East Buffalo Street, Ithaca, NY 14850

Richard P. Ruswick

Bankruptcy, Corporate, Business Organization, Construction

Status: In Good Standing

CONTACT

401 E. State St., Ithaca, NY 14850

Lee Matthew Van Houten

Alimony & Spousal Support, Bankruptcy, Collection, Criminal

Status: In Good Standing

CONTACT

104-114 North Cayuga Street, Ithaca, NY 14850

Amy Lillian Vichinsky

Criminal, Bankruptcy & Debt, Business, Other

Status: In Good Standing Licensed: 22 Years

CONTACT

Corning, NY 14830

Anna Jane Smith

Consumer Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

104-114 North Cayuga St, Ithaca, NY 14850

Lee Matthew Van Houten

Landlord-Tenant, Collection, DUI-DWI, Divorce

Status: In Good Standing

CONTACT

104-114 North Cayuga Street, Ithaca, NY 14850

Richard P Ruswick

Real Estate, Wills & Probate, Trusts, Bankruptcy, Estate

Status: In Good Standing Licensed: 38 Years

CONTACT

121 E. Buffalo St., Ithaca, NY 14850

Susan Beth Mcneil

Family Law, Business & Trade, Collection, Bankruptcy & Debt

Status: In Good Standing Licensed: 21 Years

CONTACT

309 N Tioga St, Ithaca, NY 14850

James A. Salk

Business, Transactions, Commercial Bankruptcy, Residential Real Estate

Status: In Good Standing Licensed: 45 Years

CONTACT

118 E Clinton St, Ithaca, NY 14850

800-923-0641

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LEGAL TERMS

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.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

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.

Horseheads Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

George D. Patte

Richard P. Ruswick

Lee Matthew Van Houten

Amy Lillian Vichinsky

Anna Jane Smith

Lee Matthew Van Houten

Richard P Ruswick

Susan Beth Mcneil

James A. Salk

TIPS

LEGAL TERMS

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

INFRINGEMENT (OF TRADEMARK)

SOLE PROPRIETORSHIP

COLLATERAL

NONDISCHARGEABLE DEBTS

S CORPORATION

SECURED DEBT

401(K) PLAN

FDCPA

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