Lincolnshire Collection Lawyer, Illinois, 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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Fred Blitt

Real Estate, Collection, Bankruptcy & Debt

Status: Licensed: 36 Years

CONTACT

661 Glenn Avenue, Wheeling, IL 60090

Marlon Troy Suskin

Estate Planning, Divorce & Family Law, Elder Law, Collection

Status: Licensed: 29 Years

CONTACT

1590 S. Milwaukee Avenue, Libertyville, IL 60048

David Moon

Health Care Other, Government, Civil & Human Rights, Collection, Lawsuit & Dispute

Status: Licensed: 29 Years

CONTACT

707 Lake Cook Road, Chicago, IL 60614

Ronald Rosenfeld

Collection

Status: Licensed: 30 Years

CONTACT

2801 Lakeside Drive, Deerfield, IL 60015

James Krasny

Litigation, Collection, Bankruptcy

Status: Licensed: 49 Years

CONTACT

740 Constance Lane, Deerfield, IL 60015

Steven Shaw Potts

Civil Rights, Corporate, Collection, Bankruptcy, Real Estate

Status: Licensed: 36 Years

CONTACT

2349 Walters Ave, Northbrook, IL 60062

Toni Alana Miller

Real Estate, Collection

Status: Licensed: 20 Years

CONTACT

661 Glenn Avenue, Wheeling, IL 60090

Alex Pirogovsky

Litigation, Collection, Divorce, Business

Status: Licensed: 27 Years

CONTACT

3000 Dundee Road, Northbrook, IL 60062

Louis Scott Freedman

Lawsuit & Dispute, Government, Collection, Bankruptcy

Status: Licensed: 45 Years

CONTACT

661 Glenn Avenue, Wheeling, IL 60090

Rhoda Elvove Markovitz

Commercial Real Estate, Litigation, Transactions, Collection

Status: Licensed: 48 Years

CONTACT

3734 Pebble Beach Rd, Northbrook, IL 60062

800-814-6700

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LEGAL TERMS

LIQUIDATING PARTNER

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

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

FCRA

See Fair Credit Reporting Act.

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

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.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

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Lincolnshire Collection Lawyer, Illinois, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Fred Blitt

Marlon Troy Suskin

David Moon

Ronald Rosenfeld

James Krasny

Steven Shaw Potts

Toni Alana Miller

Alex Pirogovsky

Louis Scott Freedman

Rhoda Elvove Markovitz

TIPS

LEGAL TERMS

LIQUIDATING PARTNER

REDEMPTION

FCRA

SECURED DEBT

401(K) PLAN

WINDING UP

HOUSEHOLDER

BANKRUPTCY

DISPOSABLE INCOME

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