Wilmette Bankruptcy & Debt Lawyer, Illinois

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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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David N Byer

Landlord-Tenant, Divorce & Family Law, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 18 Years

FREE CONSULTATION

CONTACT

1780 Maple Street, Northfield, IL 60093

Ben Schneider

Foreclosure, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

FREE CONSULTATION

CONTACT

8424 Skokie Blvd., Skokie, IL 60077

Jeffrey Strange

Business, Collection, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

717 Ridge Road, Wilmette, IL 60091

Richard Gilbaugh

Tax, Bankruptcy, International Tax

Status: In Good Standing Licensed: 13 Years

CONTACT

717 Ridge Rd, Wilmette, IL 60091

Jeffrey Strange

Business, Collection, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

717 Ridge Road, Wilmette, IL 60091

Ben Leo Schneider

Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

8424 Blvd, Skokie, IL 60077

Carol Di Giacomo

Estate Planning, Adoption, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 42 Years

CONTACT

191 Waukegan Rd., Winnetka, IL 60093

Stuart Lloyd Swanson

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

4131 Main St, Skokie, IL 60076

Barbara Merrey Decoster

Estate, Transactions, Collection, Products Liability

Status: In Good Standing Licensed: 47 Years

CONTACT

1620 Cleveland Street, Evanston, IL 60202

Barbara Decoster

Estate, Transactions, Collection, Products Liability

Status: In Good Standing Licensed: 47 Years

CONTACT

1620 Cleveland Street, Evanston, IL 60202

800-923-0641

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LEGAL TERMS

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.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

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.

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Wilmette Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David N Byer

Ben Schneider

Jeffrey Strange

Richard Gilbaugh

Jeffrey Strange

Ben Leo Schneider

Carol Di Giacomo

Stuart Lloyd Swanson

Barbara Merrey Decoster

Barbara Decoster

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LEGAL TERMS

FRATERNAL BENEFIT SOCIETY BENEFITS

COSIGNER

FRAUDULENT TRANSFER

PRIORITY DEBT

C CORPORATION

DOING BUSINESS AS (DBA)

REDEMPTION

NUISANCE FEES

BULK SALES LAW

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