Old Westbury Bankruptcy & Debt Lawyer, New York, page 2

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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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Mark Emmanuel Cohen

Commercial Real Estate, Real Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

675 Old Country Rd, Old Westbury, NY 11590

Edward Alan Wiener

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing

CONTACT

1400 Old Country Rd, Old Westbury, NY 11590

Adam Gross

Real Estate, Business, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

900 Merchants Concourse, Old Westbury, NY 11590

Mark Emmanuel Cohen

Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

675 Old Country Rd, Old Westbury, NY 11590

Stephani Ann Schendlinger

Collection

Status: In Good Standing Licensed: 8 Years

CONTACT

900 Merchants Concourse, Old Westbury, NY 11590

Kevin D Ribakove

Real Estate, Estate Planning, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 48 Years

CONTACT

25 Club House Ct, Jericho, NY 11753

Robert Michael Manners

Real Estate, Litigation, Business, Bankruptcy & Debt

Status: In Good Standing

CONTACT

950 Jericho Tpke, Old Westbury, NY 11590

M. Christina Ozcan

Transportation & Shipping, Aviation, Antitrust, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

616 Duke St, Old Westbury, NY 11590

Nancy Bernheim

International, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

259 Vista Drive, Jericho, NY 11753

Evan David Lerner

Commercial Real Estate, Employee Rights, Bankruptcy & Debt

Status: In Good Standing

CONTACT

400 Post Ave, Old Westbury, NY 11590

800-923-0641

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LEGAL TERMS

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

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.

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Old Westbury Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mark Emmanuel Cohen

Edward Alan Wiener

Adam Gross

Mark Emmanuel Cohen

Stephani Ann Schendlinger

Kevin D Ribakove

Robert Michael Manners

M. Christina Ozcan

Nancy Bernheim

Evan David Lerner

TIPS

LEGAL TERMS

TOXIC TORT

NONEXEMPT PROPERTY

ACCORD AND SATISFACTION

BANKRUPTCY TRUSTEE

COLLATERAL

PREFERENCE

REPOSSESSION

LIEN

GRACE PERIOD

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