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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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Omeesha Srivastava

Landlord-Tenant, Social Security, Transactions, Collection

Status: In Good Standing Licensed: 22 Years

CONTACT

175 North Archer Ave, Lake Zurich, IL 60060

Omeesha Srivastava

Landlord-Tenant, Social Security, Transactions, Collection

Status: In Good Standing Licensed: 22 Years

CONTACT

175 North Archer Ave, Lake Zurich, IL 60060

Paul Charles Pecoraro

Bankruptcy, Personal Injury, Employee Rights, Civil Rights

Status: In Good Standing Licensed: 16 Years

CONTACT

46 Gino Lane, Lake Zurich, IL 60047

Paul Pecoraro

Bankruptcy, Personal Injury, Employee Rights, Civil Rights

Status: In Good Standing Licensed: 16 Years

CONTACT

46 Gino Lane, Lake Zurich, IL 60047

David Schwab

Real Estate, Litigation, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

Three Hawthorn Pkwy, Vernon Hills, IL 60061

David John Schwab

Litigation, Government, Employment Contracts, Banking & Finance, Bankruptcy

Status: In Good Standing

CONTACT

3 Hawthorn Pkwy, Vernon Hills, IL 60061

David J. Schwab

Real Estate, Litigation, Bankruptcy, Bankruptcy & Debt, Civil Rights

Status: In Good Standing

CONTACT

3 Hawthorn Pkwy, Vernon Hills, IL 60061

Ian Michael Burns

Bankruptcy, Transactions

Status: In Good Standing Licensed: 20 Years

CONTACT

1 Corporate Dr., Lake Zurich, IL 60047

Filip Zucek

Real Estate, Corporate, Business, Bankruptcy

Status: In Good Standing Licensed: 11 Years

CONTACT

175 E. Hawthorn Parkway, Vernon Hills, IL 60061

Alexandra Bohdanna Lewycky

Motor Vehicle, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

1 Corporate Drive, Lake Zurich, IL 60047

800-923-0641

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LEGAL TERMS

CCCS

See Consumer Credit Counseling Service.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

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Mundelein Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Omeesha Srivastava

Omeesha Srivastava

Paul Charles Pecoraro

Paul Pecoraro

David Schwab

David John Schwab

David J. Schwab

Ian Michael Burns

Filip Zucek

Alexandra Bohdanna Lewycky

TIPS

LEGAL TERMS

CCCS

DEFINED CONTRIBUTION PLAN

ADMINISTRATIVE EXPENSES

WORKOUT

INFRINGEMENT (OF TRADEMARK)

LOSS DAMAGE WAIVER (LDW)

AUTOMATIC STAY

FAIR CREDIT REPORTING ACT (FCRA)

CREDIT INSURANCE

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