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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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Robert J. Buonomo

Bankruptcy, Business Organization, Insurance, Litigation

Status: In Good Standing

CONTACT

1997 State Route 17M, Goshen, NY 10924

Carol C. Pierce

Dispute Resolution, Arbitration, Corporate, Bankruptcy

Status: In Good Standing

CONTACT

10 Matthews Street, Goshen, NY 10924

James G. Yastion

Corporate, Collection, Complex Litigation, Credit & Debt

Status: In Good Standing

CONTACT

10 Matthews Street, Goshen, NY 10924

Mark T. Starkman

Administrative Law, Bankruptcy Litigation, Construction Liens, Credit & Debt

Status: In Good Standing

CONTACT

Orange Avenue, Walden, NY 12586

John H. Thomas

Bankruptcy, Landlord-Tenant, Real Estate, Litigation

Status: In Good Standing

CONTACT

158 Orange Avenue, Walden, NY 12586

Marc William Suffern

Lawsuit & Dispute, Divorce & Family Law, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 49 Years

CONTACT

Slate Hill, NY 10973

Janet Anne Sommer

Real Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

55 Onderdonk Rd, Warwick, NY 10990

Emily Anne Cajigas

Real Estate, Government, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

4 Jessup Rd, Warwick, NY 10990

Frank A. Lombardi

Lawsuit & Dispute, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

38 Jordan Lane, Middletown, NY 10940

Howard S. Dallow

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 55 Years

CONTACT

225 Dolson Ave, Middletown, NY 10940

800-923-0641

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LEGAL TERMS

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

FCRA

See Fair Credit Reporting Act.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

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Westtown Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Robert J. Buonomo

Carol C. Pierce

James G. Yastion

Mark T. Starkman

John H. Thomas

Marc William Suffern

Janet Anne Sommer

Emily Anne Cajigas

Frank A. Lombardi

Howard S. Dallow

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LEGAL TERMS

SOLE PROPRIETORSHIP

UNDUE HARDSHIP

DISPOSABLE INCOME

TRADE DRESS

BULK SALES LAW

GARNISHMENT

FCRA

CREDIT COUNSELING

GENERAL PARTNER

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