Oswego Bankruptcy & Debt Lawyer, Illinois

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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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C. David Ward

Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

2756 Route 34, Oswego, IL 60543

James E. Sturino

Family Law, Corporate, Business Organization, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

Naperville Executive Center, 1555 Naperville Wheaton Road, Naperville, IL 60563

David W. Nordin

Bankruptcy, Credit & Debt, Family Law, Litigation

Status: In Good Standing

FREE CONSULTATION

CONTACT

Naperville Executive Center, 1555 Naperville/Wheaton Rd., Naperville, IL 60563

Charles David Ward

Landlord-Tenant, Child Custody, Misdemeanor, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

1234 Douglas Road, Oswego, IL 60543

Michael W. Huseman

Bankruptcy & Debt, Litigation, Personal Injury, Landlord-Tenant, Condominiums

Status: In Good Standing

CONTACT

1999 West Downer Place, Aurora, IL 60506

Daniel Roger Mintz

Traffic, Family Law, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 46 Years

CONTACT

67 E Downer Pl, Aurora, IL 60505

Bonnie Kunkel

Family Law, Divorce, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 43 Years

CONTACT

1527 Prairie St, Aurora, IL 60506

Bonnie Lee Kunkel

Family Law, Divorce, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 43 Years

CONTACT

1527 Prairie St, Aurora, IL 60506

Linda Holzrichter

Estate Planning, Family Law, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

16 S Locust St, Aurora, IL 60506

Linda Marie Holzrichter

Estate Planning, Family Law, Divorce & Family Law, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

16 S Locust St, Aurora, IL 60506

800-923-0641

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LEGAL TERMS

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

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.

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

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Oswego Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

C. David Ward

James E. Sturino

David W. Nordin

Charles David Ward

Michael W. Huseman

Daniel Roger Mintz

Bonnie Kunkel

Bonnie Lee Kunkel

Linda Holzrichter

Linda Marie Holzrichter

TIPS

LEGAL TERMS

CREDITOR

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

BANKRUPTCY TRUSTEE

HOUSEHOLDER

ABUSE

PREFERENCE

ACCORD AND SATISFACTION

CURRENT MONTHLY INCOME

GUARANTOR

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