South Bethlehem Bankruptcy & Debt Lawyer, New York

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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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Adam Alvarez

Real Estate, Government, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

279 Troy Rd, Rensselaer, NY 12144

Andrea Celli

Bankruptcy

Status: Suspended Licensed: 35 Years

CONTACT

100 State St, Albany, NY 12207

Anthony Leopoldo Polizzi

Estate, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

110 State St, Albany, NY 12236

Anthony Yudd

Bankruptcy

Status: In Good Standing

CONTACT

Albany, NY 12201

Barbara A. Whipple

Other, Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

284 State St, Albany, NY 12210

Brian J. Mccann

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

Washington Ave, Albany, NY 12227

Brian J. Mccann

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

Washington Ave, Albany, NY 12227

Caitlin Donovan

Lawsuit & Dispute, Child Custody, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

677 Broadway, Albany, NY 12207

Charles Terry Kriss

Landlord-Tenant, Wills & Probate, Employment Discrimination, Bankruptcy & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

350 Northern Blvd, Albany, NY 12204

Christopher James Dewitt

Federal Appellate Practice, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

20 Hurst Ave, Albany, NY 12208

800-923-0641

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LEGAL TERMS

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.

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.

CCCS

See Consumer Credit Counseling Service.

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.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

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South Bethlehem Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Adam Alvarez

Andrea Celli

Anthony Leopoldo Polizzi

Anthony Yudd

Barbara A. Whipple

Brian J. Mccann

Brian J. Mccann

Caitlin Donovan

Charles Terry Kriss

Christopher James Dewitt

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LEGAL TERMS

NUISANCE FEES

PRESUMED ABUSE

CCCS

SETOFF

CURRENT MONTHLY INCOME

UNSECURED DEBT

ABUSE

S CORPORATION

GRACE PERIOD

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