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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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Morlan Ty Rogers

Commercial Real Estate, Litigation, Contract, Credit & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

108-18 Queens Boulevard, Forest Hills, NY 11375

Angelo A. Digangi

Credit & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

10105 Lefferts Blvd, South Richmond Hill, NY 11419

Daniel Leonard Feldman

Collection, Contract, Collection, Credit & Debt

Status: In Good Standing Licensed: 37 Years

CONTACT

41-46 Main St, Flushing, NY 11355

Andrew Inbeh Park

Motor Vehicle, Divorce & Family Law, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

33-03 Parsons Blvd, Flushing, NY 11354

Alexander Tapia

Credit & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

4104 56Th St, Woodside, NY 11377

Nathan Arthur Brill

Real Estate, Immigration, Divorce & Family Law, Credit & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

4240 Bell Blvd, Bayside, NY 11361

Phillip Mahony

Foreclosure, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

2183 Steinway St, Long Island City, NY 11105

Steven Goldman

Credit & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

474 Malbone St, Brooklyn, NY 11225

Ira S. Newman

Sexual Harassment, Elder Law, Banking & Finance, Credit & Debt

Status: In Good Standing

CONTACT

20 Devon Rd, Great Neck, NY 11023

Gary Alan Schonwald

Tax, Traffic, Immigration, Credit & Debt

Status: In Good Standing

CONTACT

301 E 79Th St, New York, NY 10075

800-923-0641

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LEGAL TERMS

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

CCCS

See Consumer Credit Counseling Service.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

... Such a system is not tolerable in regard to credit card and other consumer credit debt cases where items such as the interest rate, late payment charge, and over-the-limit fees may change several times over the course of the consumer credit agreement. ...

Grasso v. Grasso

... 765 The husband also correctly contends that the Supreme Court improvidently exercised its discretion by, in effect, holding him responsible for 100% of the credit card obligations that constitute the parties' marital debt as well as all the marital debt that was solely in the wife's ...

PRA III LLC v. Gonzalez

... agreement to extend credit to the defendant, the issuance of credit cards at the defendant's address, his use of credit cards, his ... Moreover, the plaintiff submitted no evidence demonstrating the defendant's intention to pay the alleged debt (see General Obligations Law Â§ 17-101 ...

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Queens Credit & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Morlan Ty Rogers

Angelo A. Digangi

Daniel Leonard Feldman

Andrew Inbeh Park

Alexander Tapia

Nathan Arthur Brill

Phillip Mahony

Steven Goldman

Ira S. Newman

Gary Alan Schonwald

TIPS

LEGAL TERMS

NO-FAULT INSURANCE

UNDUE HARDSHIP

COSIGNER

UNSECURED DEBT

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

GENERAL PARTNER

CCCS

WINDING UP

SOLE PROPRIETORSHIP

SAMPLE LEGAL CASES

COLLINS FIN. v. Vigilante

Grasso v. Grasso

PRA III LLC v. Gonzalez

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