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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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Thomas John Minotti

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Bankruptcy & Debt, Accident & Injury

Mr. Minotti received his Bachelors Degree from Pace University in 1995 and his Juris Doctor Degree from Pace University School of Law in 1998. Upon gr... (more)

FREE CONSULTATION

CONTACT

800-918-5290

1131 Route 55, Lagrangeville, NY 12540

Michael Fakhoury

Personal Injury, Accident & Injury, Motorcycle Accident, Slip & Fall Accident, Bankruptcy & Debt

CONTACT

845-896-5200

725 Route 9, Fishkill, NY 12524

Thomas F. Vasti

Complex Litigation, Criminal, Contract, Collection, Real Estate

Status: Licensed: 34 Years

CONTACT

Pleasant Valley, NY 12569

Charles Erwin Tebbe

Commercial Bankruptcy, Insurance, Litigation

Status: Licensed: 34 Years

CONTACT

35 Pine Woods Rd, Hyde Park, NY 12538

Dena Ghobashy

Real Estate, Immigration, Criminal, Bankruptcy & Debt

Status: Licensed: 15 Years

CONTACT

3 Neptune Road, Poughkeepsie, NY 12601

Thomas Genova

Contract, Banking & Finance, Credit & Debt, Bankruptcy

Status:

FREE CONSULTATION

CONTACT

1136 Route 9, Wappingers Falls, NY 12590

Dario Di Lello

Land Use & Zoning, Wills & Probate, Bankruptcy, Personal Injury

Status:

CONTACT

1542 Route 52, Fishkill, NY 12524

Dario Dilello

Commercial Real Estate, Bankruptcy, Bankruptcy & Debt, Personal Injury

Status:

CONTACT

725 Route 9, Fishkill, NY 12524

Brian Juran

Bankruptcy & Debt, Bankruptcy

Status: Licensed: 28 Years

CONTACT

654 Aaron Ct, Kingston, NY 12401

Richard Schisano

Bankruptcy, Business Organization, Collection, Commercial Leasing

Status: Licensed: 46 Years

CONTACT

717 Broadway, Newburgh, NY 12550

800-814-6700

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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.

COLLATERAL

Property that guarantees payment of a secured debt.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

LIQUIDATING PARTNER

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

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.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

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.

CCCS

See Consumer Credit Counseling Service.

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.

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Millbrook Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Thomas John Minotti

Michael Fakhoury

Thomas F. Vasti

Charles Erwin Tebbe

Dena Ghobashy

Thomas Genova

Dario Di Lello

Dario Dilello

Brian Juran

Richard Schisano

TIPS

LEGAL TERMS

UNSECURED DEBT

COLLATERAL

CHAPTER 7 BANKRUPTCY

LIQUIDATING PARTNER

CHAPTER 13 PLAN

COLLECTION AGENCY

CHAPTER 13 BANKRUPTCY

CCCS

GARNISHMENT

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