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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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Ian L. Crimmins

Estate Planning, Family Law, Criminal, Collection

Status: In Good Standing

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18 Park Row, Chatham, NY 12037

Marc S. Ehrlich

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

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64 2nd Street, Troy, NY 12180

Ian Lyle Crimmins

Estate Planning, Family Law, Criminal, Collection

Status: In Good Standing

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18 Park Row, Chatham, NY 12037

Elliott F Marinstein

Construction, Business Organization, Banking & Finance, Collection

Status: In Good Standing Licensed: 70 Years

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22 1St St, Troy, NY 12180

Shannan Collier Krasnokutski

Arbitration, Credit & Debt, Employee Rights, Environmental Law Other

Status: In Good Standing

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39 North Pearl Street, Albany, NY 12207

David Hilleary Wilder

Litigation, Arbitration, Banking & Finance, Credit & Debt

Status: In Good Standing

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39 North Pearl Street, Albany, NY 12207

E Raymond Kolarsey

Health Care Other, Life & Health, Insurance, Reorganization

Status: In Good Standing

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121 State St, Albany, NY 12207

Patrick F. Tedesco

Litigation, Banking & Finance, Business, Credit & Debt

Status: In Good Standing

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39 North Pearl Street, Albany, NY 12207

Rosemary Weaver Mckenna

Education, Tax, Housing & Urban Development, Reorganization

Status: In Good Standing

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28 2Nd St, Troy, NY 12180

Shannon De Maranville Frazier

Bankruptcy

Status: In Good Standing

CONTACT

20 Corporate Woods Blvd, Albany, NY 12211

800-923-0641

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LEGAL TERMS

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

FCBA

See Fair Credit Billing Act.

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.

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New Lebanon Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Ian L. Crimmins

Marc S. Ehrlich

Ian Lyle Crimmins

Elliott F Marinstein

Shannan Collier Krasnokutski

David Hilleary Wilder

E Raymond Kolarsey

Patrick F. Tedesco

Rosemary Weaver Mckenna

Shannon De Maranville Frazier

TIPS

LEGAL TERMS

REPOSSESSION

FRAUDULENT TRANSFER

IRS EXPENSES

CYBERSQUATTING

FORBEARANCE

AUTOMATIC STAY

GRACE PERIOD

FCBA

PRESUMED ABUSE

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