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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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Elliot Scott Schlissel

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Divorce & Family Law, Criminal, Real Estate, Wills & Probate, Bankruptcy & Debt

I am available to help my clients 7 days a week.

The Law Offices of Schlissel DeCorpo is composed of attorneys and paralegals who are caring, dedicated professionals contributing experience and exper... (more)

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800-718-3171

479 Merrick Rd, Lynbrook, NY 11563

James Martin Gallagher

Consumer Bankruptcy, Wills & Probate, Personal Injury, Real Estate

Status: Licensed: 45 Years

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2249 Derby Road (At Sunrise Highway), Baldwin, NY 11510

Jeffrey M. Rosenblum

Bankruptcy & Debt, Tax, Estate, Lawsuit & Dispute

Status: Licensed: 51 Years

FREE CONSULTATION

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371 Merrick Road, Rockville Centre, NY 11570

Jerry Merola

Tax, Bankruptcy & Debt, Criminal, Business

Status:

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91 N. Franklin Street, Hempstead, NY 11550

Leonard M. Ross

Corporate, Contract, Business Organization, Credit & Debt, Real Estate

Status: Licensed: 46 Years

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265 Sunrise Hwy, Rockville Centre, NY 11570

Mel Jacoby

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law

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FREE CONSULTATION

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2545 Hempstead Turnpike, East Meadow, NY 11554

Richard Glenn Gertler

Litigation, Corporate Governance, Business & Trade, Bankruptcy Litigation

Status: Licensed: 40 Years

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90 Merrick Avenue, East Meadow, NY 11554

Jennifer A. Bentley

Accident & Injury, Bankruptcy & Debt, Criminal, Employment

Status: Licensed: 21 Years

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90 Merrick Avenue, East Meadow, NY 11554

Jacqueline M. Della Chiesa

Bankruptcy & Debt, Foreclosure, Credit & Debt, Litigation

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401 Franklin Avenue, Garden City, NY 11530

Scott Robert Cohen

Landlord-Tenant, Insurance, Collection, Legal Malpractice

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1921 Bellmore Avenue, Bellmore, NY 11710

800-814-6700

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LEGAL TERMS

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

CCCS

See Consumer Credit Counseling Service.

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.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

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.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

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Baldwin Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Elliot Scott Schlissel

James Martin Gallagher

Jeffrey M. Rosenblum

Jerry Merola

Leonard M. Ross

Mel Jacoby

Richard Glenn Gertler

Jennifer A. Bentley

Jacqueline M. Della Chiesa

Scott Robert Cohen

TIPS

LEGAL TERMS

HOUSEHOLDER

CCCS

DEFINED CONTRIBUTION PLAN

ADMINISTRATIVE EXPENSES

LIQUIDATING PARTNER

CHAPTER 7 BANKRUPTCY

GRACE PERIOD

SUBROGATION

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

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