Lisle Collection Lawyer, Illinois

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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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Raya D. Bogard

Corporate, Business Successions, Business Organization, Collection

Status:

CONTACT

1001 Warrenville Road, Lisle, IL 60532

Aaron Troy

Wills & Probate, Estate Planning, Estate, Contract, Collection

Status:

CONTACT

1776 S Naperville Rd, Wheaton, IL 60189

Adam Tracy

Real Estate, Securities, Corporate, Collection

Status: Licensed: 20 Years

CONTACT

520 W. Roosevelt Road, Wheaton, IL 60187

Bonnie G. Lederman

Criminal, Collection, Personal Injury, Transactions, Business

Status: Licensed: 48 Years

CONTACT

799 Roosevelt Road, Glen Ellyn, IL 60137

Brian A Yeaman

Litigation, Collection, Bankruptcy

Status: Licensed: 19 Years

CONTACT

600 Leesburg Ct, Naperville, IL 60540

Bryan Michael Sims

Family Medical Leave Act (FMLA), Civil Rights, Banking & Finance, Collection

Status:

CONTACT

1700 Park St, Naperville, IL 60563

Carmel Huseman

Collection, Transactions, Commercial Real Estate, Commercial Real Estate, Bankruptcy & Debt

Status: Licensed: 19 Years

CONTACT

4320 Winfield Rd, Warrenville, IL 60555

Charles G. Mccarthy

Bankruptcy & Debt, Collection, Transactions

Status: Licensed: 21 Years

CONTACT

100 W Roosevelt Rd, Wheaton, IL 60187

Christopher Dunsing

Landlord-Tenant, Collection, Litigation, Medical Malpractice

Status: Licensed: 18 Years

CONTACT

311 S County Farm Rd, Wheaton, IL 60187

David Douglas Mccarthy

Construction, Employment, Business, Collection

Status: Licensed: 46 Years

CONTACT

1155 S Washington St, Naperville, IL 60540

800-814-6700

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LEGAL TERMS

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

LIQUIDATING PARTNER

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

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

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Lisle Collection Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Raya D. Bogard

Aaron Troy

Adam Tracy

Bonnie G. Lederman

Brian A Yeaman

Bryan Michael Sims

Carmel Huseman

Charles G. Mccarthy

Christopher Dunsing

David Douglas Mccarthy

TIPS

LEGAL TERMS

PRESUMED ABUSE

DISCHARGEABLE DEBTS

NONEXEMPT PROPERTY

S CORPORATION

FAIR LABOR STANDARDS ACT (FLSA)

LIQUIDATING PARTNER

WORKOUT

GENERAL PARTNER

DEBIT CARD

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