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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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Benoit Letendre

Divorce & Family Law, Bankruptcy & Debt

Status: Licensed: 15 Years

CONTACT

123 2Nd Street, Baraboo, WI 53913

Christopher J Arnold

Employee Rights, Securities, Bankruptcy, Medical Malpractice

Status:

CONTACT

1525 River Road, Deforest, WI 53532

Elizabeth Stevens

Estate Planning, Child Custody, Civil Rights, Reorganization

Status:

CONTACT

311 Dewitt Street, Portage, WI 53901

Eric Johnson

Real Estate, Wills & Probate, Estate, Business, Bankruptcy

Status: Licensed: 18 Years

CONTACT

111 Oak St, Mauston, WI 53948

Hans O. Helland

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

Status: Licensed: 76 Years

CONTACT

Wisconsin Dells, WI 53965

James R. Mack

Bankruptcy

Status: Licensed: 58 Years

CONTACT

Beaver Dam, WI 53916

Jeanne L. Zamzow

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

Status: Licensed: 18 Years

CONTACT

405 W Main St, Wautoma, WI 54982

Justin Guler

Real Estate, Business, Bankruptcy & Debt

Status: Licensed: 18 Years

CONTACT

3758 Millstone Lane, Deforest, WI 53532

Katherine J. Kruger

Dispute Resolution, Divorce & Family Law, Bankruptcy, Malpractice, Child Custody

Status: Licensed: 24 Years

CONTACT

702 DeWitt St, Portage, WI 53901

Mary L. West

Estate Planning, Divorce & Family Law, Criminal, Bankruptcy

Status: Licensed: 39 Years

CONTACT

W2049 Amherst Ln, Lyndon Station, WI 53944

800-814-6700

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LEGAL TERMS

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

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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Oxford Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Benoit Letendre

Christopher J Arnold

Elizabeth Stevens

Eric Johnson

Hans O. Helland

James R. Mack

Jeanne L. Zamzow

Justin Guler

Katherine J. Kruger

Mary L. West

TIPS

LEGAL TERMS

FAIR LABOR STANDARDS ACT (FLSA)

SETOFF

SECURED DEBT

SOLE PROPRIETORSHIP

401(K) PLAN

DEFINED CONTRIBUTION PLAN

CYBERSQUATTING

SUBROGATION

REDEMPTION

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