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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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Gehi & Associates

✓ VERIFIED

Immigration, Asylum, Deportation, Divorce, Bankruptcy

An Internationally Renowned Law Firm Based in New York. We handle immigration cases in the United States and all over the world.

FREE CONSULTATION

CONTACT

718-263-5999

74-09, 37th Avenue, Suite 205,, Jackson Heights, NY 11372

Chukwudi M. Chigewe

✓ VERIFIED

Immigration, Bankruptcy & Debt, Wills & Probate

Admission in NM; Immigration Matters Only in NY

Chukwudi M. Chigewe is a practicing lawyer in the state of New Mexico. Attorney Chigewe received his J.D. from the Thomas M. Cooley School of Law in 2... (more)

CONTACT

646-886-7995

94-04 218 Street, Queens Village, NY 11428

Heather Lynn Gregg

Bankruptcy, Commercial Real Estate, Condominiums, Contract

Status: In Good Standing

FREE CONSULTATION

CONTACT

108-18 Queens Boulevard, Forest Hills, NY 11375

David Schachter

Business Organization, Collection, Banking & Finance, Bad Faith Insurance

Status: In Good Standing

FREE CONSULTATION

CONTACT

7409 37th Avenue, Jackson Heights, NY 11372

Jacqueline Torchin Carey

Criminal, Divorce & Family Law, Bankruptcy & Debt, Securities Fraud

Status: In Good Standing Licensed: 34 Years

CONTACT

125-10 Queens Boulevard, Kew Gardens, NY 11415

Georgette Miller

Foreclosure, Social Security, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

FREE CONSULTATION

CONTACT

61-43 186th Street, Fresh Meadows, NY 11365

Nathan Erlich

Business & Trade, Corporate, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

10818 Queens Blvd, Forest Hills, NY 11375

Allan R. Bloomfield

Divorce, Consumer Protection, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

11821 Queens Blvd, Forest Hills, NY 11375

Mel Jacoby

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law

Status: In Good Standing

FREE CONSULTATION

CONTACT

61-43 186 Street, Fresh Meadows, NY 11365

Kevin Dean Ribakove

Estate, Real Estate, Bankruptcy & Debt, Health Care, Power of Attorney

Status: In Good Standing Licensed: 48 Years

CONTACT

10719 71St Ave, Forest Hills, NY 11375

800-923-0641

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LEGAL TERMS

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

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.

CREDIT FILE

See credit report.

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.

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

Kew Gardens Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Gehi & Associates

Chukwudi M. Chigewe

Heather Lynn Gregg

David Schachter

Jacqueline Torchin Carey

Georgette Miller

Nathan Erlich

Allan R. Bloomfield

Mel Jacoby

Kevin Dean Ribakove

TIPS

LEGAL TERMS

MEANS TEST

ACCORD AND SATISFACTION

FRAUDULENT TRANSFER

S CORPORATION

CREDIT FILE

CREDIT COUNSELING

CHAPTER 13 BANKRUPTCY

BULK SALES LAW

FDCPA

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