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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: 27 Years

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1225 Franklin Ave, Garden City, NY 11530

James Pennington Truitt

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

Status: Licensed: 24 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: 65 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

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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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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

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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

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.

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.

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.

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.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

FCRA

See Fair Credit Reporting Act.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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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

GARNISHMENT

UNSECURED DEBT

BULK SALES LAW

NO-FAULT INSURANCE

ACCORD AND SATISFACTION

FCRA

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

FRAUDULENT TRANSFER

MEANS TEST

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