Mount Pleasant Bankruptcy & Debt Lawyer, Wisconsin, page 4

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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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Chris Head

Bankruptcy & Debt, Criminal, Divorce & Family Law, Tax

Status: Licensed: 12 Years

CONTACT

436 E Plainfield Ave, Milwaukee, WI 53207

Rollie Hanson

Estate, Elder Law, Wills & Probate, Bankruptcy & Debt, Business

Status: Licensed: 39 Years

CONTACT

6767 W Greenfield Ave, Milwaukee, WI 53214

Joseph Ryan

Landlord-Tenant, Foreclosure, Consumer Bankruptcy, Bankruptcy

Status:

CONTACT

128 W. Mineral St., Milwaukee, WI 53204

Jeffrey Keith Fields

Bankruptcy & Debt, Credit & Debt, Bankruptcy, Collection

Status: Licensed: 28 Years

FREE CONSULTATION

CONTACT

2323 S 109th St, Milwaukee, WI 53227

Nicholas J. DeStefanis

Bankruptcy & Debt, Criminal, Divorce & Family Law, Accident & Injury, Estate

Status: Licensed: 18 Years

CONTACT

1126 S. 70th Street, West Allis, WI 53214

John M. Heuer

Business, Bankruptcy & Debt, Employee Rights

Status: Licensed: 48 Years

CONTACT

9312 W National Ave, Milwaukee, WI 53227

Martin R. Anderson

Bankruptcy, Child Custody, Estate, Wills & Probate, Estate Planning

Status:

CONTACT

403 Superior Ave, Tomah, WI 54660

Matthew T. Angel

Bankruptcy & Debt, Real Estate

Status: Licensed: 22 Years

CONTACT

110 W Fountain St, Dodgeville, WI 53533

Lorin M. Schuchardt

Immigration, Estate, Divorce & Family Law, Bankruptcy

Status:

CONTACT

1126 S 70Th St, Milwaukee, WI 53214

Nelson S. Weine

Industry Specialties, Business, Bankruptcy & Debt

Status: Licensed: 54 Years

CONTACT

6471 Blue Heron Pointe Drive, Waterford, WI 53185

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

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.

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Mount Pleasant Bankruptcy & Debt Lawyer, Wisconsin, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Chris Head

Rollie Hanson

Joseph Ryan

Jeffrey Keith Fields

Nicholas J. DeStefanis

John M. Heuer

Martin R. Anderson

Matthew T. Angel

Lorin M. Schuchardt

Nelson S. Weine

TIPS

LEGAL TERMS

PRESUMED ABUSE

UNDUE HARDSHIP

REDEMPTION

DOING BUSINESS AS (DBA)

CREDIT COUNSELING

CHAPTER 7 BANKRUPTCY

GRACE PERIOD

REPOSSESSION

NONEXEMPT PROPERTY

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