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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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Christopher B. Morozin

Bankruptcy, Collection, Contract, Criminal

Status: In Good Standing

FREE CONSULTATION

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74 East Grand Avenue, Fox Lake, IL 60020

Guy Youman

Corporate, Collection, Elder Law, Adoption, Trusts

Status: In Good Standing

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4306F W. Crystal Lake Rd., Mchenry, IL 60050

Guy R. Youman

Adoption, Elder Law, Corporate, Collection

Status: In Good Standing

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4306 W. Crystal Lake Road, Mchenry, IL 60050

Paul Zukowski

Traffic, Divorce & Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 37 Years

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5320 W. Elm Street, Mchenry, IL 60050

Scott Alan Bentley

Real Estate, Criminal, Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 40 Years

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5435 Bull Valley Road, Mchenry, IL 60050

Scott Bentley

Real Estate, Criminal, Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 40 Years

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5435 Bull Valley Road, Mchenry, IL 60050

Scott William Brammer

Consumer Bankruptcy, Residential Real Estate, Wills, Bankruptcy

Status: In Good Standing Licensed: 33 Years

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5447 W. Bull Valley Road, Mchenry, IL 60050

John Ridgway

Bankruptcy, DUI-DWI, Traffic, Criminal

Status: In Good Standing Licensed: 43 Years

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4310 Crystal Lake Road, Mchenry, IL 60050

Francis Xavier Gosser

Litigation, Estate Planning, Divorce, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

105 Van Buren Ave, Crystal Lake, IL 60098

Francis Gosser

Litigation, Estate Planning, Divorce, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

105 Van Buren Ave, Crystal Lake, IL 60098

800-923-0641

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LEGAL TERMS

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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Richmond Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Christopher B. Morozin

Guy Youman

Guy R. Youman

Paul Zukowski

Scott Alan Bentley

Scott Bentley

Scott William Brammer

John Ridgway

Francis Xavier Gosser

Francis Gosser

TIPS

LEGAL TERMS

DISCHARGEABLE DEBTS

DISPOSABLE INCOME

MEETING OF CREDITORS

CURRENT MONTHLY INCOME

DOING BUSINESS AS (DBA)

CHAPTER 7 BANKRUPTCY

TRADE DRESS

NUISANCE FEES

GUARANTOR

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