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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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Derek Akiwumi

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

Derek Akiwumi, representing clients throughout WNY, has a proven reputation for getting the results you need. From criminal defense, appeals, and pers... (more)

CONTACT

800-711-9031

300 International Dr, Buffalo, NY 14221

Patrick Noe

Business Organization, Family Law, Eminent Domain, Collection

Status: In Good Standing

FREE CONSULTATION

CONTACT

1301 North Forest Road, Buffalo, NY 14221

Lance J. Mark

Adoption, Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 50 Years

CONTACT

539B Main St, Medina, NY 14103

Gerald Stephen Sacca

Real Estate, Criminal, Corporate, Bankruptcy

Status: In Good Standing Licensed: 52 Years

CONTACT

781 Davison Rd, Lockport, NY 14094

Patrick Michael Balkin

Family Law, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 41 Years

CONTACT

365 Market St, Lockport, NY 14094

Philip Stephen Chamot

Real Estate, Estate Planning, Estate, Commercial Bankruptcy

Status: In Good Standing Licensed: 37 Years

CONTACT

76 West Ave, Lockport, NY 14094

Michaelangelo John Cieri

Criminal, Bankruptcy, Medical Malpractice, Slip & Fall Accident, Car Accident

Status: In Good Standing Licensed: 14 Years

CONTACT

12364 Main Rd, Akron, NY 14001

Scott Anthony Bylewski

Divorce, DUI-DWI, Collection, Products Liability

Status: In Good Standing Licensed: 26 Years

CONTACT

5861 Goodrich Rd, Clarence Center, NY 14032

Michelle Lynn Cappellucci

Employee Rights, Family Law, Elder Law, Bankruptcy

Status: In Good Standing

CONTACT

8351 Black Walnut Dr, East Amherst, NY 14051

Richard Alan Hull

Other, Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

19 San Jose Ct, East Amherst, NY 14051

800-923-0641

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LEGAL TERMS

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

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.

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

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.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

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Middleport Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Derek Akiwumi

Patrick Noe

Lance J. Mark

Gerald Stephen Sacca

Patrick Michael Balkin

Philip Stephen Chamot

Michaelangelo John Cieri

Scott Anthony Bylewski

Michelle Lynn Cappellucci

Richard Alan Hull

TIPS

LEGAL TERMS

WINDING UP

LIMITED LIABILITY

FRATERNAL BENEFIT SOCIETY BENEFITS

ABUSE

FAIR CREDIT REPORTING ACT (FCRA)

LIQUIDATING PARTNER

FRAUDULENT TRANSFER

DISCHARGEABLE DEBTS

DEBIT CARD

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