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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 John Minotti

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Bankruptcy & Debt, Accident & Injury

Mr. Minotti received his Bachelors Degree from Pace University in 1995 and his Juris Doctor Degree from Pace University School of Law in 1998. Upon gr... (more)

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800-918-5290

1131 Route 55, Lagrangeville, NY 12540

Nancy Corrigan

Consumer Protection, Litigation, Business Organization, Credit & Debt

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FREE CONSULTATION

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71 Richardsville Road, Carmel, NY 10512

Lester Forest

Consumer Bankruptcy, Estate, Civil Rights, Bankruptcy & Debt

Status: Licensed: 43 Years

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299 Route 6N, Mahopac, NY 10541

Dario Di Lello

Land Use & Zoning, Wills & Probate, Bankruptcy, Personal Injury

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1542 Route 52, Fishkill, NY 12524

Thomas Genova

Contract, Banking & Finance, Credit & Debt, Bankruptcy

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FREE CONSULTATION

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1136 Route 9, Wappingers Falls, NY 12590

Dario Dilello

Commercial Real Estate, Bankruptcy, Bankruptcy & Debt, Personal Injury

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725 Route 9, Fishkill, NY 12524

Thomas F. Vasti

Complex Litigation, Criminal, Contract, Collection, Real Estate

Status: Licensed: 33 Years

CONTACT

Pleasant Valley, NY 12569

Dena Ghobashy

Real Estate, Immigration, Criminal, Bankruptcy & Debt

Status: Licensed: 14 Years

CONTACT

3 Neptune Road, Poughkeepsie, NY 12601

Jay Wolf Ungerman

Bankruptcy

Status: Licensed: 64 Years

CONTACT

136 Grand Street, Croton On Hudson, NY 10520

800-814-6700

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LEGAL TERMS

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.

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.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

CREDITOR

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

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.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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Patterson Bankruptcy & Debt Lawyer, New York

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The Michelson Law Office

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Thomas John Minotti

Nancy Corrigan

Lester Forest

Dario Di Lello

Thomas Genova

Dario Dilello

Thomas F. Vasti

Dena Ghobashy

Jay Wolf Ungerman

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LEGAL TERMS

HOUSEHOLDER

SETOFF

TRADE NAME

CREDITOR

REDEMPTION

BULK SALES LAW

DISCHARGE (OF DEBTS)

LIQUIDATING PARTNER

CHAPTER 13 PLAN

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