Racine County, WI 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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David D Patton

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Criminal, Divorce & Family Law, Estate, Business Organization, Contract

A versatile, innovative, and adaptable attorney with an attitude of service and broad experience who meets challenges with open-eyed optimism and solu... (more)

FREE CONSULTATION

CONTACT

800-934-1321

1636 Taylor Ave, Racine, WI 53403

Anton B. Nickolai

Estate Planning, Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

308 Milwaukee Ave, Burlington, WI 53105

Geoffrey Robert Schiveley

Corporate, Business Organization, Private Placements, Banking & Finance

Status: In Good Standing

CONTACT

840 Lake Avenue, Racine, WI 53403

Anthony P. Hahn

Litigation, Employment Discrimination, Insurance, Personal Injury

Status: In Good Standing

CONTACT

840 Lake Avenue, Racine, WI 53403

JoAnne Breese-Jaeck

Age Discrimination, Alcoholic Beverages, Americans with Disabilities Act , Animal Bite

Status: In Good Standing

CONTACT

840 Lake Avenue, Racine, WI 53403

Elaine Sutton Ekes

Real Estate, Government

Status: In Good Standing

CONTACT

610 Main St., Racine, WI 53403

Cynthia L. Murphy

Family Law, Divorce

Status: In Good Standing

FREE CONSULTATION

CONTACT

913 Main Street, Racine, WI 53403

Timothy D Boyle

Real Estate, Litigation, Divorce, Criminal

Status: In Good Standing

CONTACT

116 N. Dodge St., Burlington, WI 53105

Kenneth F Hostak

General Practice

Status: In Good Standing

CONTACT

840 Lake Avenue, Racine, WI 53403

Thomas William Durkin

Social Security, Social Security -- Disability

Status: In Good Standing Licensed: 30 Years

FREE CONSULTATION

CONTACT

840 Lake Avenue, Racine, WI 53403

800-923-0641

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LEGAL TERMS

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

FCBA

See Fair Credit Billing Act.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured 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.

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.

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Racine County, WI Reorganization Lawyers

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David D Patton

Anton B. Nickolai

Geoffrey Robert Schiveley

Anthony P. Hahn

JoAnne Breese-Jaeck

Elaine Sutton Ekes

Cynthia L. Murphy

Timothy D Boyle

Kenneth F Hostak

Thomas William Durkin

TIPS

LEGAL TERMS

PRESUMED ABUSE

GARNISHMENT

FCBA

REPOSSESSION

NONEXEMPT PROPERTY

FAIR LABOR STANDARDS ACT (FLSA)

SECURED DEBT

FAIR CREDIT REPORTING ACT (FCRA)

WINDING UP

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