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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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Hilary J. Negele

Real Estate, Wills, Bankruptcy

Status: In Good Standing

CONTACT

444 N Cedar Lake Rd, Round Lake, IL 60073

Bonnie Lillian Macfarlane

Federal Appellate Practice, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

106 W State Rd, Island Lake, IL 60042

Bonnie Macfarlane

Bankruptcy, Federal Appellate Practice, Family Law, Environmental Law

Status: In Good Standing Licensed: 34 Years

CONTACT

106 W State Rd, Island Lake, IL 60042

Guy R. Youman

Adoption, Elder Law, Corporate, Collection

Status: In Good Standing

CONTACT

4306 W. Crystal Lake Road, Mchenry, IL 60050

Guy Youman

Corporate, Collection, Elder Law, Adoption, Trusts

Status: In Good Standing

CONTACT

4306F W. Crystal Lake Rd., Mchenry, IL 60050

James T. Magee

Real Estate, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 54 Years

CONTACT

444 N Cedar Lake Rd, Grayslake, IL 60073

Isaac Samuel Schreibman

Collection

Status: In Good Standing Licensed: 44 Years

CONTACT

27763 W Lakeview Dr N, Barrington, IL 60084

Isaac Schreibman

Collection

Status: In Good Standing Licensed: 44 Years

CONTACT

27763 W Lakeview Dr N, Barrington, IL 60084

John Elliott Ridgway

Traffic, DUI-DWI, Criminal, Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

21 Northwest Highway, Cary, IL 60013

Rita A Mcdade

Civil Rights, Corporate, Collection, Personal Injury

Status: In Good Standing Licensed: 16 Years

CONTACT

445 Park Ave, Cary, IL 60013

800-923-0641

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LEGAL TERMS

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

FDCPA

See Fair Debt Collections & Practices Act.

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.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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.

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Island Lake Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Hilary J. Negele

Bonnie Lillian Macfarlane

Bonnie Macfarlane

Guy R. Youman

Guy Youman

James T. Magee

Isaac Samuel Schreibman

Isaac Schreibman

John Elliott Ridgway

Rita A Mcdade

TIPS

LEGAL TERMS

ADMINISTRATIVE EXPENSES

DISCHARGEABLE DEBTS

GUARANTEED RESERVATION

LIMITED LIABILITY

FDCPA

FAIR LABOR STANDARDS ACT (FLSA)

GRACE PERIOD

NONEXEMPT PROPERTY

FORBEARANCE

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