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Tricia Terry
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Marrs & Terry, PLLC
6553 Jackson Road Ann Arbor, MI 48103Â» view map
Bankruptcy & Debt
Personalized, Efficient Counsel

Marrs & Terry, PLLC have been helping individuals face a variety of legal challenges, including bankruptcy, estate planning and administration, and family law.

800-862-7221
1. Tricia Terry Ann Arbor, MI
  Attorney at Law- MI, 1999
  Thomas M. Cooley Law School, J.D.
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David R. Heyboer

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Criminal, DUI-DWI, Bankruptcy & Debt, Personal Injury, Real Estate

When you've been arrested and facing criminal charges, there can be serious consequences for you and your family. Don't face your criminal charges alo... (more)

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800-953-6751

3051 Commerce Drive, Fort Gratiot, MI 48059

Amber Randazzo

Collection, Family Law, Business, Other

Status: In Good Standing Licensed: 3 Years

CONTACT

201 Mcmorran Blvd, Port Huron, MI 48060

Andrew R. Lockard

Estate, Family Law, Criminal, Credit & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

225 E Woodworth St, Bad Axe, MI 48413

Barry Shoults

Estate Planning, Labor Law, Family Law, Consumer Bankruptcy

Status: In Good Standing

CONTACT

441 Clay St, Lapeer, MI 48446

Beverly G. Wheelihan

Other, Consumer Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

103 W Church St, Capac, MI 48014

Chad R. Partaka

Real Estate, Social Security, Estate Planning, Credit & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

5543 Main St, Lexington, MI 48450

David W. Brown

Real Estate, Family Law, Criminal, Business, Bankruptcy

Status: In Good Standing

CONTACT

1820 N Lapeer Rd, Lapeer, MI 48446

Dawn Marie Young

Estate Planning, Labor Law, Elder Law, Collection

Status: In Good Standing Licensed: 9 Years

CONTACT

606 Schock Rd, Harbor Beach, MI 48441

Frank A. Simasko

Estate, Criminal, Bankruptcy & Debt, Personal Injury

Status: In Good Standing Licensed: 27 Years

CONTACT

3895 24Th Ave, Fort Gratiot, MI 48059

Frederick M. Snider

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

Status: In Good Standing Licensed: 39 Years

CONTACT

918 Military St, Port Huron, MI 48060

800-923-0641

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LEGAL TERMS

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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Carsonville Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

David R. Heyboer

Amber Randazzo

Andrew R. Lockard

Barry Shoults

Beverly G. Wheelihan

Chad R. Partaka

David W. Brown

Dawn Marie Young

Frank A. Simasko

Frederick M. Snider

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LEGAL TERMS

MEANS TEST

BANKRUPTCY

COLLATERAL

AUTOMATIC STAY

PRESUMED ABUSE

REDEMPTION

FORBEARANCE

FRAUDULENT TRANSFER

REAFFIRMATION

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