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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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Brad Jeffrey Axelrod

Corporate, Banking & Finance, Reorganization, Bankruptcy, Divorce & Family Law

Status: Licensed: 36 Years

CONTACT

500 5Th Ave, New York, NY 10110

Gary Petropoulos

Litigation, Insurance, Reorganization, Legal Malpractice

Status:

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Gregory Laurence Matalon

Estate Administration, Estate Planning, Elder Law, Reorganization

Status: Licensed: 26 Years

CONTACT

100 Jericho Quadrangle, Jericho, NY 11753

Lauren Rachel Lifland

Business & Trade, Reorganization, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

7 World Trade Ctr, New York, NY 10007

Eric Sleeper

Litigation, Corporate, Workout, Reorganization, Commercial Bankruptcy

Status:

CONTACT

1095 Avenue of the Americas, 38th Fl., New York, NY 10001

Andrew Stephen Midgett

Criminal, Corporate, Reorganization, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

217 Broadway, New York, NY 10007

Andrew Joseph Young

Reorganization, Litigation

Status: Licensed: 19 Years

CONTACT

1 Chase Manhattan Plz, New York, NY 10005

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

Status:

CONTACT

1122 Franklin Ave, Garden City, NY 11530

Jason A. Nagi

Criminal, Corporate, Business, Reorganization

Status:

CONTACT

14 Wall Street, New York, NY 10005

David R Tillinghast

Tax, International Tax, Reorganization

Status: Licensed: 69 Years

CONTACT

1 Wall St, New York, NY 10005

800-814-6700

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LEGAL TERMS

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.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

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.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

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.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

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Croton Reorganization Lawyer, New York, page 5

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Brad Jeffrey Axelrod

Gary Petropoulos

Gregory Laurence Matalon

Lauren Rachel Lifland

Eric Sleeper

Andrew Stephen Midgett

Andrew Joseph Young

Mary Ann Catalano

Jason A. Nagi

David R Tillinghast

TIPS

LEGAL TERMS

GARNISHMENT

IRS EXPENSES

CHAPTER 7 BANKRUPTCY

LOSS DAMAGE WAIVER (LDW)

LIMITED PARTNERSHIP

CREDIT REPORT

REDEMPTION

C CORPORATION

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

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