Katonah Bankruptcy & Debt Lawyer, New York, page 2

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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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George J. Calcagnini

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

376 Route 202, Somers, NY 10589

Denis J. Timone

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 57 Years

CONTACT

384 Route 202, Somers, NY 10589

Leonard Frank Quartaro

Bankruptcy & Debt, Criminal, Credit & Debt

Status: In Good Standing Licensed: 30 Years

CONTACT

35B Heritage Hls, Somers, NY 10589

Anthony John Tripodi

Commercial Real Estate, Real Estate, Government, Bankruptcy & Debt

Status: In Good Standing Licensed: 49 Years

CONTACT

40 Triangle Ctr, Yorktown Heights, NY 10598

Peter K. Nardone

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

118 N Bedford Rd, Mount Kisco, NY 10549

Maurice F. Curran

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 67 Years

CONTACT

61 Smith Ave, Mount Kisco, NY 10549

Gary Mark Rikoon

Industry Specialties, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

CONTACT

79 Granite Springs Rd, Yorktown Heights, NY 10598

Kimberly Suzanne Bliss

Motor Vehicle, Trusts, Criminal, Elder Law, Collection

Status: In Good Standing

CONTACT

55 Smith Avenue, Mount Kisco, NY 10549

Catherine B. Andreycak

Real Estate, Motor Vehicle, Corporate, Collection, Car Accident

Status: In Good Standing

CONTACT

55 Smith Ave, Mount Kisco, NY 10549

Stuart R. Shamberg

Immigration, Employment, Divorce, Collection

Status: In Good Standing Licensed: 71 Years

CONTACT

55 Smith Ave, Mount Kisco, NY 10549

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.

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.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

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.

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.

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).

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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Katonah Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

George J. Calcagnini

Denis J. Timone

Leonard Frank Quartaro

Anthony John Tripodi

Peter K. Nardone

Maurice F. Curran

Gary Mark Rikoon

Kimberly Suzanne Bliss

Catherine B. Andreycak

Stuart R. Shamberg

TIPS

LEGAL TERMS

UNSECURED DEBT

LIMITED LIABILITY

NONEXEMPT PROPERTY

DEBT COLLECTOR

FRAUDULENT TRANSFER

INTEREST

CREDIT REPORT

GARNISHMENT

SECURED DEBT

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