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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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Richard S. Feinsilver

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Real Estate, Bankruptcy, Bankruptcy & Debt

Your Long Island Bankruptcy Lawyer - 25 yrs exp.

Over the past 25 years, lawyer Richard Feinsilver has represented in excess of 6,000 clients in the prosecution of consumer and business bankruptcy pr... (more)

FREE CONSULTATION

CONTACT

800-977-1321

One Old Country Road, Carle Place, NY 11514

Parshhueram T. Misir

Construction, Real Estate, Litigation, Bankruptcy

Status:

CONTACT

170 Old Country Road, Mineola, NY 11501

James Martin Gallagher

Consumer Bankruptcy, Wills & Probate, Personal Injury, Real Estate

Status: Licensed: 45 Years

CONTACT

2249 Derby Road (At Sunrise Highway), Baldwin, NY 11510

Jerry Merola

Tax, Bankruptcy & Debt, Criminal, Business

Status:

FREE CONSULTATION

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91 N. Franklin Street, Hempstead, NY 11550

Jeffrey M. Rosenblum

Bankruptcy & Debt, Tax, Estate, Lawsuit & Dispute

Status: Licensed: 51 Years

FREE CONSULTATION

CONTACT

371 Merrick Road, Rockville Centre, NY 11570

Danny D. De Voe

Bankruptcy & Debt, Business, Collection, Estate

Status: Licensed: 19 Years

CONTACT

1325 Franklin Ave., Garden City, NY 11530

Mel Jacoby

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law

Status:

FREE CONSULTATION

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2545 Hempstead Turnpike, East Meadow, NY 11554

Leonard M. Ross

Credit & Debt, Business Organization, Corporate, Contract, Corporate

Status: Licensed: 46 Years

CONTACT

265 Sunrise Hwy, Rockville Centre, NY 11570

Jennifer A. Bentley

Accident & Injury, Bankruptcy & Debt, Criminal, Employment

Status: Licensed: 21 Years

CONTACT

90 Merrick Avenue, East Meadow, NY 11554

Richard Glenn Gertler

Litigation, Corporate Governance, Business & Trade, Bankruptcy Litigation

Status: Licensed: 40 Years

CONTACT

90 Merrick Avenue, East Meadow, NY 11554

800-814-6700

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LEGAL TERMS

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

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.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

CREDITOR

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

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.

Roosevelt Bankruptcy & Debt Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Richard S. Feinsilver

Parshhueram T. Misir

James Martin Gallagher

Jerry Merola

Jeffrey M. Rosenblum

Danny D. De Voe

Mel Jacoby

Leonard M. Ross

Jennifer A. Bentley

Richard Glenn Gertler

TIPS

LEGAL TERMS

GARNISHMENT

FAIR CREDIT REPORTING ACT (FCRA)

GUARANTOR

PRIORITY DEBT

NUISANCE FEES

401(K) PLAN

FORBEARANCE

CREDITOR

BANKRUPTCY

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