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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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Paula Jeanette Mcgill

Sexual Harassment, Discrimination, Banking & Finance, Credit & Debt

Status: Licensed: 28 Years

CONTACT

1225 Franklin Ave, Garden City, NY 11530

James Pennington Truitt

Commercial Real Estate, Commercial Leasing, Commercial Insurance, Collection, Real Estate

Status: Licensed: 25 Years

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300 Garden City Plaza, Garden City, NY 11530

Ted Eric May

Commercial Real Estate, Business & Trade, Business, Bankruptcy

Status: Licensed: 66 Years

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255 Merrick Rd, Rockville Centre, NY 11570

Howard D. Weisinger

Real Estate, Criminal, Bankruptcy, Bankruptcy & Debt, Industry Specialties

Status: Licensed: 38 Years

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393 Old Country Rd, Carle Place, NY 11514

Jacqueline M. Della Chiesa

Bankruptcy & Debt, Foreclosure, Credit & Debt, Litigation

Status:

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401 Franklin Avenue, Garden City, NY 11530

Jessica Gittle Berman

Litigation, Business Organization, Reorganization, Bankruptcy & Debt

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990 Stewart Avenue, Garden City, NY 11530

Arnold M. Bottalico

Foreclosure, Mass Torts, Insurance, Bankruptcy, Personal Injury

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CONTACT

1225 Franklin Ave, Garden City, NY 11530

Amanda Rose Lamberson

Litigation, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

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400 Garden City Plaza, Garden City, NY 11530

Robert David Aronin

Business & Trade, Commercial Bankruptcy, Litigation

Status: Licensed: 36 Years

CONTACT

100 Garden City Plaza, Garden City, NY 11530

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

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1122 Franklin Ave, Garden City, NY 11530

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LEGAL TERMS

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

FCBA

See Fair Credit Billing Act.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

DISCHARGE (OF DEBTS)

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

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.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

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Roosevelt Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Paula Jeanette Mcgill

James Pennington Truitt

Ted Eric May

Howard D. Weisinger

Jacqueline M. Della Chiesa

Jessica Gittle Berman

Arnold M. Bottalico

Amanda Rose Lamberson

Robert David Aronin

Mary Ann Catalano

TIPS

LEGAL TERMS

LIABILITY

INFRINGEMENT (OF TRADEMARK)

REPOSSESSION

FCBA

DISCHARGEABLE DEBTS

DISPOSABLE INCOME

DISCHARGE (OF DEBTS)

SOLE PROPRIETORSHIP

FRATERNAL BENEFIT SOCIETY BENEFITS

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