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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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John V. Burns

Estate Planning, Family Law, Criminal, Bankruptcy

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CONTACT

1111 East Sumner Street, Hartford, WI 53027

Ryan J. Harrington

Traffic, Criminal, Bankruptcy & Debt, Accident & Injury

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CONTACT

N14 W23755 Stone Ridge Drive, Waukesha, WI 53188

Brian A. Romans

Contract, Credit & Debt, Estate Administration, Land Use & Zoning

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N94 W17900 Appleton Avenue, Menomonee Falls, WI 53051

John Krawczyk

Americans with Disabilities Act , Commercial Banks, Credit & Debt, Directors & Officers

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16650 W. Bluemound Rd., Brookfield, WI 53005

Tamara N. Jackson

Estate Planning, Family Law, Elder Law, Bankruptcy

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FREE CONSULTATION

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2200 N. Mayfair Road, Milwaukee, WI 53226

Benjamin A. Menzel

Collection, Construction Liens, Pension & Benefits, Labor Law

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FREE CONSULTATION

CONTACT

1555 N. River Center Dr., Milwaukee, WI 53212

Jeremy T.C. Wenzel

Freedom of Information, Voting Rights, Bankruptcy

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FREE CONSULTATION

CONTACT

735 W. Wisconsin Avenue, Milwaukee, WI 53233

Mark J. Brunner

Workout, Reorganization, Bankruptcy, Personal Injury

Status: Licensed: 43 Years

CONTACT

233 N Main Street, West Bend, WI 53095

Kurt A. F. Malmquist

Workers' Compensation, Family Law, Insurance, Credit & Debt, Personal Injury

Status: Licensed: 41 Years

CONTACT

142 N Main St, Mequon, WI 53092

Robert G. Pyzyk

Contract, Business Organization, Banking & Finance, Bankruptcy, Landlord-Tenant

Status: Licensed: 51 Years

CONTACT

N94W17900 Appleton Ave, Menomonee Falls, WI 53052

800-814-6700

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LEGAL TERMS

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

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.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

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Slinger Bankruptcy & Debt Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John V. Burns

Ryan J. Harrington

Brian A. Romans

John Krawczyk

Tamara N. Jackson

Benjamin A. Menzel

Jeremy T.C. Wenzel

Mark J. Brunner

Kurt A. F. Malmquist

Robert G. Pyzyk

TIPS

LEGAL TERMS

AUTOMATIC STAY

NONPROFIT CORPORATION

ADMINISTRATIVE EXPENSES

LIQUIDATING PARTNER

GUARANTOR

MEANS TEST

SECRET WARRANTY PROGRAM

S CORPORATION

COSIGNER

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