Palos Park 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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Thomas Lee Murphy

Divorce & Family Law, Bankruptcy, Civil Rights, Litigation

Status: In Good Standing Licensed: 53 Years

CONTACT

10660 W 143rd Street, Orland Park, IL 60462

Angie Karen Robertson

Commercial Real Estate, Motor Vehicle, Commercial Banks, Collection

Status: In Good Standing Licensed: 14 Years

CONTACT

9760 S Roberts Rd, Palos Hills, IL 60465

Mary Elizabeth Philipps

Class Action, Securities Fraud , Credit & Debt, Collection

Status: In Good Standing Licensed: 37 Years

CONTACT

9760 S Roberts Rd, Palos Hills, IL 60465

Thomas William Lynch

Tax, Real Estate, Business & Trade, Bankruptcy

Status: In Good Standing

CONTACT

9231 South Roberts Road, Hickory Hills, IL 60457

Christine Piesiecki

Commercial Real Estate, Criminal, Transactions, Bankruptcy

Status: In Good Standing Licensed: 38 Years

CONTACT

9800 Roberts Road, Palos Hills, IL 60465

Christine Rosemary Piesiecki

Commercial Real Estate, Criminal, Transactions, Bankruptcy

Status: In Good Standing Licensed: 38 Years

CONTACT

9800 Roberts Road, Palos Hills, IL 60465

David Grochocinski

Business & Trade, Collection, Corporate

Status: In Good Standing Licensed: 49 Years

CONTACT

1900 Ravinia Pl, Orland Park, IL 60462

James Richert

Other, Real Estate, Business, Bankruptcy

Status: In Good Standing

CONTACT

10723 W 159Th St, Orland Park, IL 60467

Sandra Lynn Makowka

Commercial Real Estate, Estate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

10729 W 159Th St, Orland Park, IL 60467

Sandra Makowka

Commercial Real Estate, Estate, Transactions, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

10729 W 159Th St, Orland Park, IL 60467

800-923-0641

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LEGAL TERMS

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).

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.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

FCBA

See Fair Credit Billing Act.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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Palos Park Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Thomas Lee Murphy

Angie Karen Robertson

Mary Elizabeth Philipps

Thomas William Lynch

Christine Piesiecki

Christine Rosemary Piesiecki

David Grochocinski

James Richert

Sandra Lynn Makowka

Sandra Makowka

TIPS

LEGAL TERMS

LIEN

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

HOUSEHOLDER

NONDISCHARGEABLE DEBTS

FCBA

BANKRUPTCY TRUSTEE

LIMITED LIABILITY

NONEXEMPT PROPERTY

BANKRUPTCY

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