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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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Carol Dillon Pollard

Immigration, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 37 Years

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113 Swan St, Schenectady, NY 12302

Christiaan Van Niekerk

Foreclosure, Bankruptcy, Landlord-Tenant, Bankruptcy & Debt

Status: In Good Standing

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202 Union Street, Schenectady, NY 12305

Christiaan Mauritz Van Niekerk

Bankruptcy & Debt

Status: In Good Standing Licensed: 19 Years

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146 Jay St, Schenectady, NY 12305

Diana Goldberg Adams

Bankruptcy, Mediation

Status: In Good Standing Licensed: 36 Years

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602 Main Street, Hobart, NY 13788

Joseph L. Litz

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

Status: In Good Standing Licensed: 40 Years

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143 Clinton St, Schenectady, NY 12305

Joseph L Litz

Criminal, Contract, Business Organization, Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

143 Clinton St, Schenectady, NY 12305

Kenneth William Gibbons

Real Estate, Divorce & Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 32 Years

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309 Mohawk Ave, Schenectady, NY 12302

Kevin A. Moss

Criminal, Traffic, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 52 Years

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462 Bond Rd, Altamont, NY 12009

Laura Lynn Silva

Other, Real Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

325 State St, Schenectady, NY 12305

Michelle H. Wildgrube

Real Estate, Federal Appellate Practice, Family Law, Bankruptcy

Status: In Good Standing

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1473 Erie Blvd, Schenectady, NY 12305

800-923-0641

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LEGAL TERMS

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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 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.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

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.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

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Middleburgh Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Carol Dillon Pollard

Christiaan Van Niekerk

Christiaan Mauritz Van Niekerk

Diana Goldberg Adams

Joseph L. Litz

Joseph L Litz

Kenneth William Gibbons

Kevin A. Moss

Laura Lynn Silva

Michelle H. Wildgrube

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LEGAL TERMS

GENERAL PARTNER

ABUSE

REAFFIRMATION

CHAPTER 13 BANKRUPTCY

WORKOUT

TRADE NAME

S CORPORATION

SUBROGATION

DOING BUSINESS AS (DBA)

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