Grand Island Bankruptcy & Debt Lawyer, New York, page 3

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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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Michael C. Schmahl Delia

Criminal, Accident & Injury, Bankruptcy & Debt, Real Estate, Business

Status: Licensed: 30 Years

FREE CONSULTATION

CONTACT

2445 Allen Ave., NIAGARA FALLS, NY 14303

David Francis Derrico

Workers' Compensation, Bankruptcy & Debt

Status: Licensed: 30 Years

CONTACT

1625 Buffalo Avenue, Niagara Falls, NY 14303

David Francis Butterini

Bankruptcy & Debt

Status: Licensed: 41 Years

CONTACT

919 Kenmore Ave, Tonawanda, NY 14223

Mark Anthony Carey

Consumer Rights, Bankruptcy & Debt, Civil Rights, Litigation, Consumer Bankruptcy

Status: Licensed: 35 Years

CONTACT

131 N Park Ave, Buffalo, NY 14216

Dragic Daniel Stevanovic

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

Status: Licensed: 36 Years

FREE CONSULTATION

CONTACT

2140 Eggert Rd, Buffalo, NY 14226

Frank Stephen Ieraci

Health Care, Workers' Compensation, Divorce & Family Law, Bankruptcy

Status:

CONTACT

2140 Eggert Rd, Buffalo, NY 14226

Randy Howard Gugino

Divorce, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 45 Years

CONTACT

2140 Eggert Rd, Buffalo, NY 14226

Thomas Denny

Dispute Resolution, Family Law, Child Custody, Bankruptcy & Debt, Foreclosure

Status: Licensed: 12 Years

CONTACT

331 Alberta Dr, Buffalo, NY 14226

Lawrence Gilbert Stuart

Real Estate, Criminal, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 40 Years

CONTACT

770 Main St, Niagara Falls, NY 14301

Diane M. Ciurczak

Real Estate, Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 34 Years

CONTACT

151 Lancaster Ave, Buffalo, NY 14222

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.

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

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.

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.

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.

Grand Island Bankruptcy & Debt Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael C. Schmahl Delia

David Francis Derrico

David Francis Butterini

Mark Anthony Carey

Dragic Daniel Stevanovic

Frank Stephen Ieraci

Randy Howard Gugino

Thomas Denny

Lawrence Gilbert Stuart

Diane M. Ciurczak

TIPS

LEGAL TERMS

HOUSEHOLDER

CURRENT MONTHLY INCOME

PRIORITY DEBT

BANKRUPTCY

DEFINED CONTRIBUTION PLAN

BANKRUPTCY TRUSTEE

GRACE PERIOD

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

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