Smiths Creek Bankruptcy & Debt Lawyer, Michigan, page 5

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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.
2. AboutExperienced Michigan Lawyer
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Mark H. Davidson

Trusts, Elder Law, Contract, Collection

Status: In Good Standing

CONTACT

310 Huron Ave, Port Huron, MI 48060

James Bowser

Social Security -- Disability, Wills & Probate, Elder Law, Bankruptcy

Status: In Good Standing

CONTACT

110 S. Third St., Saint Clair, MI 48079

Scott L. Mazey

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

Status: In Good Standing Licensed: 31 Years

CONTACT

117 S Main St, Almont, MI 48003

Timothy J. Miller

Lawsuit & Dispute, Employment, Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

64541 Van Dyke Rd, Washington, MI 48095

Andrea M. Isrow

Family Law, Divorce & Family Law, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 20 Years

CONTACT

47607 Brennan Dr, Macomb, MI 48044

Ralph Colasuonno

Litigation, State and Local, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

48 S Main St, Mount Clemens, MI 48043

Steve Sowell

Landlord-Tenant, Employee Rights, Business, Credit & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

2 Crocker Blvd, Mount Clemens, MI 48043

Lynn M. Olivier

Bankruptcy & Debt, Contract, Landlord-Tenant

Status: In Good Standing Licensed: 38 Years

CONTACT

Mount Clemens, MI 48046

Michael Kitchen

Intellectual Property, Divorce & Family Law, Criminal, Collection

Status: In Good Standing Licensed: 17 Years

CONTACT

59 N Walnut St, Mount Clemens, MI 48043

Michael J. Smith

Litigation, Lawsuit & Dispute, Criminal, Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

70 Macomb Pl, Mount Clemens, MI 48043

800-923-0641

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LEGAL TERMS

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

LIQUIDATING PARTNER

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

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

IRS EXPENSES

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income mu... (more...)

A table of national and regional expense estimates published by the IRS. Debtors whose current monthly income is more than their state's median family income must use the IRS expenses to calculate their average net income in a Chapter 7 case, or their disposable income in a Chapter 13 case.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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Smiths Creek Bankruptcy & Debt Lawyer, Michigan, page 5

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Mark H. Davidson

James Bowser

Scott L. Mazey

Timothy J. Miller

Andrea M. Isrow

Ralph Colasuonno

Steve Sowell

Lynn M. Olivier

Michael Kitchen

Michael J. Smith

TIPS

LEGAL TERMS

NONPROFIT CORPORATION

401(K) PLAN

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

LIQUIDATING PARTNER

DEFINED CONTRIBUTION PLAN

REDEMPTION

IRS EXPENSES

CHAPTER 13 BANKRUPTCY

CHAPTER 7 BANKRUPTCY

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