Skokie Bankruptcy & Debt Lawyer, Illinois

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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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Ben Schneider

Foreclosure, Divorce & Family Law, Bankruptcy, Bankruptcy & Debt

FREE CONSULTATION

CONTACT

8424 Skokie Blvd., Skokie, IL 60077

David N Byer

Landlord-Tenant, Divorce & Family Law, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 18 Years

FREE CONSULTATION

CONTACT

1780 Maple Street, Northfield, IL 60093

Julia J Smolka

Bankruptcy & Debt, Banking & Finance, Estate

Status: In Good Standing

FREE CONSULTATION

CONTACT

216 Higgins Road, Park Ridge, IL 60068

Ben Leo Schneider

Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

8424 Blvd, Skokie, IL 60077

Stuart Lloyd Swanson

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

CONTACT

4131 Main St, Skokie, IL 60076

Philip Novak

Business, Contract, Collection, Health Care, Litigation

Status: In Good Standing Licensed: 19 Years

CONTACT

7366 N Lincoln Road, Lincolnwood, IL 60712

Jay A. Slutzky

Corporate, Business Organization, Administrative Law, Bankruptcy

Status: In Good Standing Licensed: 51 Years

CONTACT

7749 N Milwaukee Ave, Niles, IL 60714

Donald Anthony Smith

Estate Planning, Adoption, Business & Trade, Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

241 Golf Mill Professional Building, Niles, IL 60714

Barbara Merrey Decoster

Estate, Transactions, Collection, Products Liability

Status: In Good Standing Licensed: 47 Years

CONTACT

1620 Cleveland Street, Evanston, IL 60202

Barbara Decoster

Estate, Transactions, Collection, Products Liability

Status: In Good Standing Licensed: 47 Years

CONTACT

1620 Cleveland Street, Evanston, IL 60202

800-923-0641

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LEGAL TERMS

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

FCRA

See Fair Credit Reporting Act.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

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.

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Skokie Bankruptcy & Debt Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Ben Schneider

David N Byer

Julia J Smolka

Ben Leo Schneider

Stuart Lloyd Swanson

Philip Novak

Jay A. Slutzky

Donald Anthony Smith

Barbara Merrey Decoster

Barbara Decoster

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LEGAL TERMS

CREDIT BUREAU

FCRA

COLLECTION AGENCY

GUARANTEED RESERVATION

PRIORITY DEBT

CURRENT MONTHLY INCOME

LIMITED PARTNERSHIP

CREDIT COUNSELING

FAIR CREDIT REPORTING ACT (FCRA)

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