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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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John V. Burns

Estate Planning, Family Law, Criminal, Bankruptcy

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1111 East Sumner Street, Hartford, WI 53027

Ryan J. Harrington

Traffic, Criminal, Bankruptcy & Debt, Accident & Injury

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N14 W23755 Stone Ridge Drive, Waukesha, WI 53188

Jeremy Joseph Geisel

Family Law, Collection, Labor Law, Child Support

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N14 W23755 Stone Ridge Drive, Waukesha, WI 53188

Erika A. Miller

Bankruptcy, Criminal, DUI-DWI, Divorce

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2727 Grandview Boulevard, Waukesha, WI 53188

Beth M Brockmeyer

Commercial Bankruptcy, Consumer Bankruptcy, Credit & Debt

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N14 W24200 Tower Place, Waukesha, WI 53188

Eric L. Becker

Commercial Real Estate, Corporate, Credit & Debt, Estate Planning

Status: Licensed: 51 Years

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130A Park Ave, Beaver Dam, WI 53916

Mark J. Brunner

Workout, Reorganization, Bankruptcy, Personal Injury

Status: Licensed: 43 Years

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233 N Main Street, West Bend, WI 53095

Thomas J Schneck

Estate Planning, Family Law, Criminal, Bankruptcy

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FREE CONSULTATION

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707 W. Moreland Boulevard, Waukesha, WI 53188

Nicholas Martinez

Bankruptcy & Debt, DUI-DWI, Wills & Probate, Immigration

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910 Clinton St, Waukesha, WI 53186

Chomi Prag

State Appellate Practice, Divorce, Business, Bankruptcy

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20720 W. Watertown Rd., Waukesha, WI 53186

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LEGAL TERMS

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

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.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

COLLATERAL

Property that guarantees payment of a secured debt.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

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Neosho Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John V. Burns

Ryan J. Harrington

Jeremy Joseph Geisel

Erika A. Miller

Beth M Brockmeyer

Eric L. Becker

Mark J. Brunner

Thomas J Schneck

Nicholas Martinez

Chomi Prag

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LEGAL TERMS

CREDIT BUREAU

S CORPORATION

COSIGNER

MEETING OF CREDITORS

COLLATERAL

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

ACCORD AND SATISFACTION

SUBROGATION

REDEMPTION

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