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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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Rosemarie E. Matera

Litigation, Corporate, Business Organization, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

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664 Chestnut Ridge Road, Spring Valley, NY 10977

Allen Kolber

Business, Bankruptcy & Debt

Status: In Good Standing

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134 Route 59, Suffern, NY 10901

Allen A. Kolber

Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

134 Route 59, Suffern, NY 10901

Arnold Philip Etelson

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 63 Years

CONTACT

1 Executive Blvd, Suffern, NY 10901

Benjamin Michael Adams

Real Estate, Bankruptcy & Debt

Status: In Good Standing

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98 Lafayette Ave, Suffern, NY 10901

Desiree Venicia De Moya

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

Status: In Good Standing

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163 S Main St, New City, NY 10956

Harvey Stephen Barr

Bankruptcy & Debt, Bankruptcy, Collection

Status: In Good Standing

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80 Red Schoolhouse Road, Spring Valley, NY 10977

Haskell Rosenfeld

Litigation, Industry Specialties, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing

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2 Perlman Dr, Spring Valley, NY 10977

Howard Lawrence Mann

Federal Appellate Practice, Wills & Probate, Child Custody, Bankruptcy

Status: In Good Standing Licensed: 59 Years

CONTACT

10 Esquire Rd, New City, NY 10956

Isabel L. Becker

Industry Specialties, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 54 Years

CONTACT

49 Maple Ave, New City, NY 10956

800-923-0641

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LEGAL TERMS

CREDIT FILE

See credit report.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

COLLATERAL

Property that guarantees payment of a secured debt.

LIQUIDATING PARTNER

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

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.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

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.

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.

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Monsey Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Rosemarie E. Matera

Allen Kolber

Allen A. Kolber

Arnold Philip Etelson

Benjamin Michael Adams

Desiree Venicia De Moya

Harvey Stephen Barr

Haskell Rosenfeld

Howard Lawrence Mann

Isabel L. Becker

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LEGAL TERMS

CREDIT FILE

TOXIC TORT

COLLATERAL

LIQUIDATING PARTNER

S CORPORATION

LIMITED PARTNERSHIP

CHAPTER 13 BANKRUPTCY

DOING BUSINESS AS (DBA)

LIMITED LIABILITY

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