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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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Bernard D. Levine

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Bankruptcy & Debt, Estate, Real Estate, DUI-DWI, Divorce & Family Law

Bernard D. Levine is a practicing lawyer in the state of New York.

CONTACT

800-736-0841

70 Linden Oaks Office Park, Rochester, NY 14625

Kenneth Gallant

Bankruptcy & Debt, Bankruptcy, Credit & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

1425 Jefferson Road, Rochester, NY 14623

Anita L. Pelletier

Education, Tax Litigation, International Tax, Health Care Other, Reorganization

Status: In Good Standing Licensed: 23 Years

CONTACT

1788 Plank Rd, Webster, NY 14580

John Lindsay Grow

Estate, Divorce & Family Law, Civil & Human Rights, Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

6431 State Route 21, Williamson, NY 14589

David B. Cook

Other, Government, Bankruptcy

Status: In Good Standing Licensed: 46 Years

CONTACT

153 W Main St, Webster, NY 14580

Frederick Rudolph Kilian

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 57 Years

CONTACT

1238 Stockbridge Rd, Webster, NY 14580

Frank Junior Borgese

Consumer Rights, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 17 Years

CONTACT

1695 Empire Blvd, Webster, NY 14580

Kris Graham

Credit & Debt, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

1695 Allen Creek Road, Webster, NY 14580

Kristin Joseph Graham

Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

1695 Empire Blvd, Webster, NY 14580

David M. Kaplan

Commercial Banks, Collection, Class Action, Bankruptcy

Status: In Good Standing

CONTACT

46 Helmsford Way, Penfield, NY 14526

800-923-0641

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LEGAL TERMS

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.

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.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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.

CCCS

See Consumer Credit Counseling Service.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

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Ontario Center Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Bernard D. Levine

Kenneth Gallant

Anita L. Pelletier

John Lindsay Grow

David B. Cook

Frederick Rudolph Kilian

Frank Junior Borgese

Kris Graham

Kristin Joseph Graham

David M. Kaplan

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LEGAL TERMS

SUBROGATION

LIMITED PARTNERSHIP

INTEREST

CREDITOR

SETOFF

IRS EXPENSES

WINDING UP

CCCS

FAIR LABOR STANDARDS ACT (FLSA)

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