St Albans Bankruptcy & Debt Lawyer, New York, page 5

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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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Steven Thomas Hansen

Education, Dispute Resolution, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

CONTACT

828 Hempstead Tpke, Franklin Square, NY 11010

Loris Philmore Primus

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

Status: In Good Standing Licensed: 46 Years

CONTACT

18353 Camden Ave, Jamaica, NY 11412

Loris P. Primus

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

Status: In Good Standing Licensed: 46 Years

CONTACT

18353 Camden Ave, Jamaica, NY 11412

Philip A. Zelinger

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

12001 Guy R Brewer Blvd, Jamaica, NY 11434

Raul P. Meruelo

Divorce, Divorce & Family Law, Criminal, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 43 Years

CONTACT

11835 Queens Boulevard, Forest Hills, NY 11375

Julian Lawrence Alfonso

Divorce & Family Law, Business, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 38 Years

CONTACT

17561 Hillside Ave, Jamaica, NY 11432

Abdul Razzaq Ghuman

Real Estate, Immigration, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

16912 Hillside Ave, Jamaica, NY 11432

Christi Gelo

Immigration, Divorce & Family Law, Consumer Rights, Bankruptcy & Debt

Status: In Good Standing Licensed: 17 Years

CONTACT

15503 Jamaica Ave, Jamaica, NY 11432

Bright Dae-Jung Limm

International, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

146-08 Liberty Avenue, Jamaica, NY 11435

Zhaotong Li

Wills & Probate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

13633 37Th Ave, Flushing, NY 11354

800-923-0641

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LEGAL TERMS

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

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.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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.

St Albans Bankruptcy & Debt Lawyer, New York, page 5

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Steven Thomas Hansen

Loris Philmore Primus

Loris P. Primus

Philip A. Zelinger

Raul P. Meruelo

Julian Lawrence Alfonso

Abdul Razzaq Ghuman

Christi Gelo

Bright Dae-Jung Limm

Zhaotong Li

TIPS

LEGAL TERMS

AUTOMATIC STAY

CREDIT INSURANCE

GRACE PERIOD

LOSS DAMAGE WAIVER (LDW)

LIABILITY

FRATERNAL BENEFIT SOCIETY BENEFITS

SOLE PROPRIETORSHIP

WINDING UP

CREDITOR

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