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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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Kevin Alan Seaman

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 51 Years

CONTACT

Stony Brook, NY 11790

Maria Christine Ambrosio

Immigration, Family Law, Consumer Rights, Collection

Status: In Good Standing Licensed: 38 Years

CONTACT

21 Annandale Rd, Stony Brook, NY 11790

Aida Saba Cavooris

Civil Rights, International Tax, Bankruptcy, Contract, Personal Injury

Status: In Good Standing Licensed: 24 Years

CONTACT

100 S Jersey Ave, East Setauket, NY 11733

Anneris Marlene Pena

Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

East Setauket, NY 11733

Melissa Corwin

Real Estate, Bankruptcy & Debt, Wrongful Death, Accident & Injury

Status: In Good Standing Licensed: 22 Years

CONTACT

East Setauket, NY 11733

Michael Jay Lang

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 65 Years

CONTACT

407 Elton Ct E, Saint James, NY 11780

Michael J. Lang

Commercial Real Estate, Commercial Leasing, Estate Administration, Consumer Bankruptcy

Status: In Good Standing Licensed: 65 Years

CONTACT

407 Elton Ct E, Saint James, NY 11780

Charles Jeffery Gleis

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

Status: In Good Standing Licensed: 17 Years

CONTACT

551 Route 25A, Saint James, NY 11780

Rosemarie Bruno

Lawsuit & Dispute, Divorce & Family Law, Bankruptcy

Status: In Good Standing

CONTACT

3771 Nesconset Hwy, Centereach, NY 11720

James Peter Deana

Other, Real Estate, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 23 Years

CONTACT

47 Route 25A, East Setauket, NY 11733

800-923-0641

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LEGAL TERMS

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.'

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.

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.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

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Stony Brook Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Kevin Alan Seaman

Maria Christine Ambrosio

Aida Saba Cavooris

Anneris Marlene Pena

Melissa Corwin

Michael Jay Lang

Michael J. Lang

Charles Jeffery Gleis

Rosemarie Bruno

James Peter Deana

TIPS

LEGAL TERMS

LOSS DAMAGE WAIVER (LDW)

INTEREST

TRADE DRESS

CREDIT COUNSELING

LIMITED PARTNERSHIP

C CORPORATION

LIABILITY

FORBEARANCE

DEBT COLLECTOR

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