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

Richard H. Cole

Alimony & Spousal Support, Bankruptcy, Criminal, Divorce

Status: In Good Standing

CONTACT

37 Franklin St., Buffalo, NY 14202

James M. Maloy

Bankruptcy, Corporate, Personal Injury, Real Estate

Status: In Good Standing

FREE CONSULTATION

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424 Main Street, Buffalo, NY 14202

Surinder Kaur Virk

Accident & Injury, Bankruptcy, Criminal, Divorce & Family Law

Status: In Good Standing Licensed: 24 Years

CONTACT

300 International Drive, Williamsville, NY 14221

Daniel Wisher

Family Law, Bankruptcy

Status: In Good Standing Licensed: 21 Years

CONTACT

5678 Main St, Buffalo, NY 14221

Regina A. Walker

Social Security -- Disability, Employment, Bankruptcy

Status: In Good Standing Licensed: 29 Years

CONTACT

300 International Dr., Buffalo, NY 14221

Kyle Clark Didone

Real Estate, Government, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

424 Main Street, Buffalo, NY 14202

Thomas F. Hewner

Estate Administration, Estate Planning, Corporate, Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

37 Franklin St, Buffalo, NY 14202

Krista Gottlieb

Mediation, Arbitration, Employment Discrimination, Dissolution

Status: In Good Standing Licensed: 45 Years

CONTACT

43 Court Street, Buffalo, NY 14202

Gary Bluestein

Bankruptcy, Tax

Status: In Good Standing

CONTACT

Buffalo, NY 14202

Frank Stephen Ieraci

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

Status: In Good Standing

CONTACT

2140 Eggert Rd, Buffalo, NY 14226

800-923-0641

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LEGAL TERMS

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

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.

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.

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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Java Center Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Richard H. Cole

James M. Maloy

Surinder Kaur Virk

Daniel Wisher

Regina A. Walker

Kyle Clark Didone

Thomas F. Hewner

Krista Gottlieb

Gary Bluestein

Frank Stephen Ieraci

TIPS

LEGAL TERMS

UNSECURED DEBT

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

BULK SALES LAW

FRAUDULENT TRANSFER

TRADE DRESS

LOSS DAMAGE WAIVER (LDW)

DEFINED CONTRIBUTION PLAN

CHAPTER 13 BANKRUPTCY

LIMITED LIABILITY

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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