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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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Gregory Mitchell

Bankruptcy, Civil Rights, Federal Appellate Practice, Personal Injury

Status: Licensed: 40 Years

CONTACT

16901 S Dixie Highway, Hazel Crest, IL 60429

Angelo J. Vitiritti

Bankruptcy, Estate Planning, Transactions, Criminal, Divorce & Family Law

Status: Licensed: 35 Years

CONTACT

16231 Wausau Ave, South Holland, IL 60473

Theresa M. Long

Bankruptcy, Bankruptcy & Debt

Status: Licensed: 39 Years

CONTACT

2056 Ridge Road, Homewood, IL 60430

Michael Dedio

Family Law, Divorce, Divorce & Family Law, Bankruptcy

Status: Licensed: 36 Years

CONTACT

15601 S Cicero Ave, Oak Forest, IL 60452

Connie J. Lambert

Corporate, Collection, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 36 Years

CONTACT

716 Park Dr, Flossmoor, IL 60422

Edward Burt

Estate Planning, Divorce & Family Law, Bankruptcy, Personal Injury, Real Estate

Status: Licensed: 52 Years

CONTACT

5320 W 159Th St, Oak Forest, IL 60452

Lorraine M. Greenberg

Litigation, International Tax, Bankruptcy, Personal Injury

Status:

CONTACT

18027 Harwood Avenue, Homewood, IL 60430

Andres Ybarra

Immigration, Employee Rights, Divorce & Family Law, Bankruptcy, Traffic

Status: Licensed: 18 Years

CONTACT

4722 W. 147Th Street, Midlothian, IL 60445

John Vito Del Gaudio

Bankruptcy

Status: Licensed: 44 Years

CONTACT

3533 Magnolia Dr., Markham, IL 60428

Ronald Lorsch

Bankruptcy, Personal Injury

Status: Licensed: 46 Years

CONTACT

1829 170Th St, Hazel Crest, IL 60429

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LEGAL TERMS

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.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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Harvey Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Gregory Mitchell

Angelo J. Vitiritti

Theresa M. Long

Michael Dedio

Connie J. Lambert

Edward Burt

Lorraine M. Greenberg

Andres Ybarra

John Vito Del Gaudio

Ronald Lorsch

TIPS

LEGAL TERMS

REPOSSESSION

INTEREST

GENERAL PARTNER

REAFFIRMATION

DISCHARGE (OF DEBTS)

LIMITED PARTNERSHIP

DOING BUSINESS AS (DBA)

NUISANCE FEES

AUTOMATIC STAY

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