East Meadow Bankruptcy & Debt Lawyer, New York, page 6

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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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Benjamin Palmer Malerba

Real Estate, Health Care, Business, Bankruptcy

Status: In Good Standing Licensed: 23 Years

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926 Rxr Plaza, Uniondale, NY 11556

Benjamin Jay Frenkel

Estate Planning, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 11 Years

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926 Rxr Plaza, Uniondale, NY 11556

Benjamin Davis Lentz

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 48 Years

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100 Jericho Quadrangle, Jericho, NY 11753

Bernard Feigen

Lawsuit & Dispute, International, Estate, Bankruptcy

Status: In Good Standing Licensed: 72 Years

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926 Rxr Plaza, Uniondale, NY 11556

Bradley D. Schnur

Real Estate, Bankruptcy & Debt, Business, Lawsuit & Dispute, Landlord-Tenant

Status: In Good Standing Licensed: 27 Years

FREE CONSULTATION

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400 Jericho Tpke, Jericho, NY 11753

Bradley T. Slover

Corporate, Contract, Business Organization, Collection

Status: In Good Standing Licensed: 16 Years

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173 School St, Old Westbury, NY 11590

Brett Peter Garver

International Tax, Business & Trade, Banking & Finance, Bankruptcy & Debt

Status: In Good Standing

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400 Garden City Plaza, Garden City, NY 11530

Brian Patrick Craig

Military & Veterans Appeals, Commercial Real Estate, Litigation, Commercial Bankruptcy

Status: In Good Standing

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400 Garden City Plaza, Garden City, NY 11530

Brian Laurence Bank

Lawsuit & Dispute, Immigration, Employment, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

926 Rxr Plaza, Uniondale, NY 11556

Brian L. Feld

Immigration, Employee Rights, Bankruptcy, Products Liability

Status: In Good Standing Licensed: 14 Years

CONTACT

926 Rxr Plz, Uniondale, NY 11556

800-923-0641

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LEGAL TERMS

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.

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.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

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.

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East Meadow Bankruptcy & Debt Lawyer, New York, page 6

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Benjamin Palmer Malerba

Benjamin Jay Frenkel

Benjamin Davis Lentz

Bernard Feigen

Bradley D. Schnur

Bradley T. Slover

Brett Peter Garver

Brian Patrick Craig

Brian Laurence Bank

Brian L. Feld

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LEGAL TERMS

CREDIT COUNSELING

DISPOSABLE INCOME

TRUTH IN LENDING ACT (TILA)

MEANS TEST

BANKRUPTCY TRUSTEE

SECURED DEBT

LIMITED LIABILITY

REPOSSESSION

REDEMPTION

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