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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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Scott M. Smith

Agriculture, Corporate, Business Organization, Collection

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124 West Exchange Street, Cambridge, IL 61238

Lincoln T. Scott

Wills & Probate, Estate Planning, Family Law, Bankruptcy

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3610 25Th Street, Moline, IL 61265

Robert T. Park

Animal Bite, Arbitration, Collection, Commercial Insurance

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1600 Fourth Avenue, Rock Island, IL 61201

Amy L. Keys

Business Organization, Collection, Construction Liens, Contract

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1600 Fourth Avenue, Rock Island, IL 61201

Clinton A. Block

Real Estate, Estate, Business, Bankruptcy

Status: Licensed: 24 Years

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117 S Chestnut St, Kewanee, IL 61443

Thomas Wayne Montgomery

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

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127 North Prospect Street, Cambridge, IL 61238

David Wayne Meier

Bankruptcy, Corporate, Litigation

Status: Licensed: 48 Years

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One John Deere Pl, Moline, IL 61265

Michael Henneberry

Collection, Divorce, Municipal, Criminal

Status: Licensed: 45 Years

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700 S. Main St. Illinois, Princeton, IL 61356

Lon Richey

DUI-DWI, Civil Rights, Bankruptcy, Personal Injury

Status: Licensed: 49 Years

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209 East Main Street, Morrison, IL 61270

Michelle Beth Buckwalter-schurman

Family Law, Divorce, Adoption, Bankruptcy

Status: Licensed: 30 Years

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209 E Main St, Morrison, IL 61270

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LEGAL TERMS

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

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.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

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.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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Annawan Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Scott M. Smith

Lincoln T. Scott

Robert T. Park

Amy L. Keys

Clinton A. Block

Thomas Wayne Montgomery

David Wayne Meier

Michael Henneberry

Lon Richey

Michelle Beth Buckwalter-schurman

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LEGAL TERMS

GRACE PERIOD

BANKRUPTCY TRUSTEE

AUTOMATIC STAY

INFRINGEMENT (OF TRADEMARK)

MEETING OF CREDITORS

CREDITOR

CURRENT MONTHLY INCOME

C CORPORATION

GUARANTOR

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