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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
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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Michaelangelo John Cieri

Criminal, Bankruptcy, Medical Malpractice, Slip & Fall Accident, Car Accident

Status: Licensed: 14 Years

CONTACT

12364 Main Rd, Akron, NY 14001

Daniel Wisher

Family Law, Bankruptcy

Status: Licensed: 21 Years

CONTACT

5678 Main St, Buffalo, NY 14221

Todd Alan Morth

Consumer Bankruptcy, Credit & Debt, Bankruptcy Litigation

Status: Licensed: 26 Years

CONTACT

336 Harris Hill Rd, Buffalo, NY 14221

Jane B. Wolfe

Bankruptcy, Foreclosure

Status: Licensed: 45 Years

CONTACT

4245 Union Rd, Buffalo, NY 14225

John D'Amato

International, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 32 Years

CONTACT

4245 Union Rd, Buffalo, NY 14225

Cheryl-Lane Heather Bechakas

Commercial Real Estate, Electronic Commerce, Trusts, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 29 Years

CONTACT

5330 Main St, Buffalo, NY 14221

Morris Louis Horwitz

Commercial Real Estate, Collection, Bankruptcy

Status: Licensed: 50 Years

CONTACT

243 Old Lyme Dr, Buffalo, NY 14221

Regina A. Walker

Social Security -- Disability, Employment, Bankruptcy

Status: Licensed: 29 Years

CONTACT

300 International Dr., Buffalo, NY 14221

Courtney R. Williams

Foreclosure, Litigation, Election & Political, Bankruptcy

Status: Licensed: 10 Years

CONTACT

1775 Wehrle Dr, Buffalo, NY 14221

Kristen Leigh Schaub

Estate, Employee Rights, Elder Law, Bankruptcy

Status: Licensed: 14 Years

CONTACT

200 John James Audubon Pkwy, Buffalo, NY 14228

800-814-6700

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LEGAL TERMS

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

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.

LIQUIDATING PARTNER

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

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

... Department. Decided April 1, 2008. Concur â€” Gonzalez, JP, Williams, Catterson and Moskowitz, JJ. On or about February 21, 2001, plaintiff filed a petition in the United States Bankruptcy Court for the District of New Jersey. Some ...

Insurance Co. v. HSBC BANK USA

... We are asked in this case to decide whether a Bankruptcy Court order allowing a creditor to seize a debtor's bank account is entitled to res judicata effect in a subsequent state proceeding alleging that a portion of the funds in the account were state tax proceeds that should not ...

White v. Mazella-White

... which was to vacate the aforesaid inquest be made part of this judgment; and it is further," and (3) by deleting the fifth decretal paragraph thereof awarding the defendant the principal sum of $85,000 in equitable distribution payable to the defendant's trustee in bankruptcy; as so ...

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Gasport Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michaelangelo John Cieri

Daniel Wisher

Todd Alan Morth

Jane B. Wolfe

John D'Amato

Cheryl-Lane Heather Bechakas

Morris Louis Horwitz

Regina A. Walker

Courtney R. Williams

Kristen Leigh Schaub

TIPS

LEGAL TERMS

S CORPORATION

PRESUMED ABUSE

INFRINGEMENT (OF TRADEMARK)

GARNISHMENT

LIQUIDATING PARTNER

BULK SALES LAW

CHAPTER 13 BANKRUPTCY

TRADE NAME

CHAPTER 13 PLAN

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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