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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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John W. Cobb

Bankruptcy, Contract, Criminal, Estate Planning

Status: In Good Standing

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724 Broadway, Newburgh, NY 12550

Robert Lawless

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

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Bldg 606, West Point, NY 10996

Paul Nicholas Weber

Industry Specialties, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 21 Years

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Cornwall, NY 12518

Alan F. Steiner

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

Status: In Good Standing Licensed: 52 Years

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1036 Old Albany Post Rd, Garrison, NY 10524

Jacqueline Mcbride Gaillard

Education, Traffic, Employment, Bankruptcy & Debt

Status: In Good Standing Licensed: 28 Years

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37 Duncan Ave, Cornwall On Hudson, NY 12520

Andrew S. Krieger

Real Estate, Government, Bankruptcy & Debt

Status: In Good Standing Licensed: 48 Years

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225 Parkway Dr, Newburgh, NY 12553

Mishael Minnie Pine

Landlord-Tenant, Foreclosure, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 18 Years

CONTACT

3204 Route 9W, New Windsor, NY 12553

Mark T. Starkman

Bankruptcy

Status: In Good Standing Licensed: 30 Years

CONTACT

14 Rudy Rd, Newburgh, NY 12553

Victoria Reilly Lehning

Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

1210 Frost Ln, Peekskill, NY 10566

Robert Thomas Lawless

Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 11 Years

CONTACT

Department Of Law, West Point, NY 10996

800-923-0641

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LEGAL TERMS

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

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.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

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.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

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.

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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West Point Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John W. Cobb

Robert Lawless

Paul Nicholas Weber

Alan F. Steiner

Jacqueline Mcbride Gaillard

Andrew S. Krieger

Mishael Minnie Pine

Mark T. Starkman

Victoria Reilly Lehning

Robert Thomas Lawless

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LEGAL TERMS

DEFINED CONTRIBUTION PLAN

PREFERENCE

DISPOSABLE INCOME

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

SECURED DEBT

CYBERSQUATTING

DISCHARGEABLE DEBTS

CHAPTER 7 BANKRUPTCY

BANKRUPTCY

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