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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 T Stephenson

Intellectual Property, Industry Specialties, Collection, Products Liability

Status: Licensed: 21 Years

CONTACT

1150 Maple Rd, Elma, NY 14059

Joseph John Terranova

Consumer Protection, Civil Rights, Collection, Household Mold

Status: Licensed: 46 Years

CONTACT

2901 Bowen Rd, Elma, NY 14059

Brandon Michael Wrazen

Business, Bankruptcy & Debt

Status: Licensed: 13 Years

CONTACT

128 Church St, East Aurora, NY 14052

James Carlton Thoman

Sports, Banking & Finance, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 23 Years

CONTACT

140 Pearl St, Buffalo, NY 14224

Jennifer Zalenski Blackhall

Government, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: Licensed: 32 Years

CONTACT

138 Barbados Dr, Buffalo, NY 14227

James Michael Joyce

General Practice

Status: Licensed: 39 Years

CONTACT

4733 Transit Rd, Depew, NY 14043

Janet G. Burhyte

Divorce, Bankruptcy & Debt

Status:

CONTACT

465 Main St, Buffalo, NY 14224

James Anthony Partacz

Government, Estate, Child Support, Bankruptcy

Status: Licensed: 45 Years

CONTACT

3890 Seneca St, Buffalo, NY 14224

Matthew B. Herdzik

Real Estate, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 46 Years

CONTACT

3700 Seneca St, Buffalo, NY 14224

Steven William Wells

Other, Litigation, Lawsuit & Dispute, Bankruptcy & Debt

Status: Licensed: 22 Years

CONTACT

229 Warner Rd, Lancaster, NY 14086

800-814-6700

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LEGAL TERMS

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

CREDITOR

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

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.

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).

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.

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.

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.

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.

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Elma Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David T Stephenson

Joseph John Terranova

Brandon Michael Wrazen

James Carlton Thoman

Jennifer Zalenski Blackhall

James Michael Joyce

Janet G. Burhyte

James Anthony Partacz

Matthew B. Herdzik

Steven William Wells

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LEGAL TERMS

WINDING UP

CREDITOR

FRATERNAL BENEFIT SOCIETY BENEFITS

CREDIT REPORT

CURRENT MONTHLY INCOME

C CORPORATION

LIMITED LIABILITY

BANKRUPTCY TRUSTEE

CHAPTER 7 BANKRUPTCY

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