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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

Lauren S. Cohen

Family Law, Child Support, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 43 Years

CONTACT

830 Oakdale Road, Johnson City, NY 13790

William James Casey

Civil Rights, Children's Rights, Contract, Bankruptcy

Status: Licensed: 18 Years

CONTACT

520 Columbia Dr, Johnson City, NY 13790

Ryan Peter Wagenleitner

Gift Taxation, Bankruptcy, Class Action, Antitrust

Status: Licensed: 16 Years

CONTACT

2300 Hemlock Ln, Vestal, NY 13850

Mark David Spinner

Telecommunications, Credit & Debt, Collection, Bankruptcy

Status: Licensed: 26 Years

CONTACT

Binghamton, NY 13902

Peter A. Orville

Constitutional Law, Banking & Finance, Credit & Debt, Bankruptcy, Motor Vehicle

Status: Licensed: 45 Years

CONTACT

30 Riverside Dr, Binghamton, NY 13905

Angelina Cutrona

Landlord-Tenant, Trusts, Employee Rights, Divorce, Bankruptcy

Status:

CONTACT

46 Front St, Binghamton, NY 13905

Alexandra Norton Sullivan

Residential Real Estate, Wills, Trusts, Commercial Bankruptcy

Status: Licensed: 10 Years

CONTACT

80 Exchange St, Binghamton, NY 13901

Alyssa Sue Congdon

Workers' Compensation, Divorce & Family Law, Criminal, Bankruptcy

Status: Licensed: 13 Years

CONTACT

45 Hawley St, Binghamton, NY 13901

800-814-6700

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LEGAL TERMS

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

CREDIT FILE

See credit report.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

DISCHARGE (OF DEBTS)

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

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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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Maine Bankruptcy Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lauren S. Cohen

William James Casey

Ryan Peter Wagenleitner

Mark David Spinner

Peter A. Orville

Angelina Cutrona

Alexandra Norton Sullivan

Alyssa Sue Congdon

TIPS

LEGAL TERMS

PREFERENCE

CREDIT FILE

CURRENT MONTHLY INCOME

CHAPTER 13 PLAN

GUARANTOR

GENERAL PARTNER

TRADE NAME

DISCHARGE (OF DEBTS)

ABUSE

SAMPLE LEGAL CASES

Barranco v. Cabrini Medical Center

Insurance Co. v. HSBC BANK USA

White v. Mazella-White

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