Katonah Bankruptcy & Debt Lawyer, New York

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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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Marianne Otoole

Bankruptcy & Debt

Status: In Good Standing Licensed: 35 Years

CONTACT

2 Depot Plaza, Bedford Hills, NY 10507

Marianne T. O'Toole

Lawsuit & Dispute, Divorce, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

2 Depot Plaza, Bedford Hills, NY 10507

Leslie Anne Simon

Other, Industry Specialties, Venture Capital, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

787 Route 35, Cross River, NY 10518

William F. Macreery

Litigation, Bankruptcy

Status: In Good Standing

CONTACT

7 Granite Springs Rd, Granite Springs, NY 10527

William F. Macreery

Bankruptcy & Debt

Status: In Good Standing Licensed: 50 Years

CONTACT

7 Granite Springs Rd, Granite Springs, NY 10527

David L. Tillem

Government, Criminal, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

145 Todd Rd, Katonah, NY 10536

Michael Aaron Klein

Corporate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

7 Sawgrass Dr, Katonah, NY 10536

Alesia Ranney-marinelli

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

99 Mount Holly Road, Katonah, NY 10536

Susan Colleen Alker

Public Finance, Business & Trade, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

100 S Bedford Rd, Mount Kisco, NY 10549

Todd A. Fishlin

Real Estate, Litigation, Trusts, Estate, Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

118 N Bedford Rd, Mount Kisco, NY 10549

800-923-0641

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LEGAL TERMS

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.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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Katonah Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Marianne Otoole

Marianne T. O'Toole

Leslie Anne Simon

William F. Macreery

William F. Macreery

David L. Tillem

Michael Aaron Klein

Alesia Ranney-marinelli

Susan Colleen Alker

Todd A. Fishlin

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LEGAL TERMS

401(K) PLAN

SOLE PROPRIETORSHIP

COLLATERAL

GENERAL PARTNER

REDEMPTION

BANKRUPTCY

CREDIT REPORT

REPOSSESSION

ACCORD AND SATISFACTION

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