Lake Peekskill 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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Victoria Reilly Lehning

Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

1210 Frost Ln, Peekskill, NY 10566

Michael Mel Attanasio

Real Estate, Civil & Human Rights, Business, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

3497 Kamhi Dr, Yorktown Heights, NY 10598

Tanya Patrice Dwyer

Commercial Real Estate, Litigation, Bankruptcy

Status: In Good Standing

CONTACT

1 Park Pl, Peekskill, NY 10566

Sarah Ann Filcher

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

1 Park Pl, Peekskill, NY 10566

Alan F. Steiner

International, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 52 Years

CONTACT

1036 Old Albany Post Rd, Garrison, NY 10524

Robert Lawless

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

Bldg 606, West Point, NY 10996

Taran M. Provost

Real Estate, Government, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing

CONTACT

227 Willow Drive, Mahopac, NY 10541

Lester Forest

Consumer Bankruptcy, Estate, Civil Rights, Bankruptcy & Debt

Status: In Good Standing Licensed: 43 Years

CONTACT

299 Route 6N, Mahopac, NY 10541

Gary Mark Rikoon

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

79 Granite Springs Rd, Yorktown Heights, NY 10598

William F. Macreery

Litigation, Bankruptcy

Status: In Good Standing

CONTACT

7 Granite Springs Rd, Granite Springs, NY 10527

800-923-0641

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LEGAL TERMS

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

CREDIT FILE

See credit report.

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.

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.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

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Lake Peekskill Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Victoria Reilly Lehning

Michael Mel Attanasio

Tanya Patrice Dwyer

Sarah Ann Filcher

Alan F. Steiner

Robert Lawless

Taran M. Provost

Lester Forest

Gary Mark Rikoon

William F. Macreery

TIPS

LEGAL TERMS

NONPROFIT CORPORATION

PRESUMED ABUSE

CREDIT FILE

REPOSSESSION

401(K) PLAN

GARNISHMENT

REAFFIRMATION

CHAPTER 13 PLAN

BULK SALES LAW

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