West Islip Bankruptcy & Debt Lawyer, New York, page 2

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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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Jeffrey Scott Panasci

Litigation, Divorce, DUI-DWI, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

28 Nassau Ave, Islip, NY 11751

Jeffrey Herzberg

Bankruptcy & Debt

Status: Inactive Licensed: 45 Years

CONTACT

24 E Main St, Bay Shore, NY 11706

Jessica Leis

Litigation, Divorce, DUI-DWI, Bankruptcy

Status: In Good Standing

CONTACT

120 Fourth Avenue, Bay Shore, NY 11706

John A. Reno

Real Estate, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

1913 Deer Park Ave, Deer Park, NY 11729

Karen Marie Sheehan

Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Kevin J. Werner

Litigation, Divorce & Family Law, DUI-DWI, Bankruptcy

Status: In Good Standing

CONTACT

120 4th Ave, Bay Shore, NY 11706

Lisa Kim Gordon

Real Estate, Lawsuit & Dispute, Bankruptcy & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

53 Gibson St, Bay Shore, NY 11706

Michael S. Cox

Litigation, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 33 Years

CONTACT

165 S Wellwood Ave, Lindenhurst, NY 11757

Michael A. Kinzer

Foreclosure, Immigration, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

CONTACT

2061 Deer Park Ave, DeerPark, NY 11729

Michael A. Collado

Business, Bankruptcy & Debt, Real Estate, Intellectual Property, Employment

Status: In Good Standing Licensed: 32 Years

CONTACT

14 Washington Ave, Brentwood, NY 11717

800-923-0641

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LEGAL TERMS

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

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.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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 LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

CCCS

See Consumer Credit Counseling Service.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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West Islip Bankruptcy & Debt Lawyer, New York, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jeffrey Scott Panasci

Jeffrey Herzberg

Jessica Leis

John A. Reno

Karen Marie Sheehan

Kevin J. Werner

Lisa Kim Gordon

Michael S. Cox

Michael A. Kinzer

Michael A. Collado

TIPS

LEGAL TERMS

BANKRUPTCY TRUSTEE

BULK SALES LAW

LIEN

C CORPORATION

CURRENT MONTHLY INCOME

LIMITED LIABILITY

CCCS

HOUSEHOLDER

TOXIC TORT

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