Oneida County, NY Reorganization Lawyers

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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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Louis T. Brindisi

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Accident & Injury, Car Accident, Workers' Compensation, Lawsuit & Dispute

Louis T. Brindisi was born in Utica, New York in 1934 and has lived here for the entirety of his life, having attended grammar schools and high school... (more)

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CONTACT

800-701-5871

2713 Genesee St, Utica, NY 13501

George E Curtis

Litigation, Estate, Divorce & Family Law, Accident & Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

2045 Genesee Street, Utica, NY 13501

Anthony J. Brindisi

Accident & Injury, Medical Malpractice, Personal Injury, Litigation

Status: In Good Standing

FREE CONSULTATION

CONTACT

2713 Genesee Street, Utica, NY 13501

Eva Brindisi Pearlman

Criminal, Bad Faith Insurance, Defamation & Slander, Animal Bite

Status: In Good Standing

FREE CONSULTATION

CONTACT

2713 Genesee Street, Utica, NY 13501

Keith A. Eisenhut

Family Law, Banking & Finance, Wills & Probate, Collaborative Law

Status: In Good Standing

FREE CONSULTATION

CONTACT

1602 Sunset Ave, Utica, NY 13502

Robert F. Julian

Wrongful Death, Personal Injury, Car Accident, Accident & Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

2037 Genesee Street, Utica, NY 13502

Anthony A. Murad

Real Estate, Personal Injury, Accident & Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

2713 Genesee Street, Utica, NY 13501

Richard Pertz

Products Liability, Pharmaceutical Product, Medical Malpractice, Animal Bite

Status: In Good Standing

FREE CONSULTATION

CONTACT

2713 Genesee Street, Utica, NY 13501

Stephanie A. Palmer

Products Liability, Pharmaceutical Product, Medical Malpractice, Professional Malpractice

Status: In Good Standing

FREE CONSULTATION

CONTACT

2713 Genesee Street, Utica, NY 13501

Christopher J. Kalil

Administrative Law, Motor Vehicle, Corporate, Business Organization

Status: In Good Standing

FREE CONSULTATION

CONTACT

1602 Sunset Ave, Utica, NY 13502

800-923-0641

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LEGAL TERMS

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

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.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

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.

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Oneida County, NY Reorganization Lawyers

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Louis T. Brindisi

George E Curtis

Anthony J. Brindisi

Eva Brindisi Pearlman

Keith A. Eisenhut

Robert F. Julian

Anthony A. Murad

Richard Pertz

Stephanie A. Palmer

Christopher J. Kalil

TIPS

LEGAL TERMS

LIEN

NONPROFIT CORPORATION

DISCHARGE (OF DEBTS)

LIMITED PARTNERSHIP

LIABILITY

PREFERENCE

REDEMPTION

TRUTH IN LENDING ACT (TILA)

401(K) PLAN

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