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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Ronald A. Schuknecht

Motor Vehicle, Dispute Resolution, Criminal, Consumer Bankruptcy

Status: In Good Standing

CONTACT

10799 Sweet Lilac Ln, Interlochen, MI 49643

Gerald F Chefalo

Traffic, Divorce & Family Law, Criminal, Corporate, Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

502 Railroad Ave, Traverse City, MI 49686

Thomas R. Alward

Consumer Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

202 E State St, Traverse City, MI 49684

Michael Patrick Corcoran

Bankruptcy, Consumer Bankruptcy, Commercial Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Jesse L. Williams

Real Estate, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 19 Years

CONTACT

2899 Benzie Highway, Benzonia, MI 49616

Michael Corcoran

Bankruptcy, Divorce & Family Law, Credit & Debt, Civil & Human Rights

Status: In Good Standing Licensed: 40 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Cheryl N. Sarlund

Divorce, Elder Law, Contract, Bankruptcy

Status: Inactive Licensed: 32 Years

CONTACT

4482 Paper Birch Lane, Traverse City, MI 49686

Mark A. Burnheimer

Litigation, Corporate, Commercial Bankruptcy, Medical Malpractice

Status: In Good Standing

CONTACT

10631 E Cherry Bend Rd, Traverse City, MI 49684

Jonathan R. Moothart

Litigation, Federal Appellate Practice, Contract, Consumer Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

9815 Miami Beach Rd, Williamsburg, MI 49690

800-923-0641

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LEGAL TERMS

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.

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.

CREDIT FILE

See credit report.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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Boon Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Ronald A. Schuknecht

Gerald F Chefalo

Thomas R. Alward

Michael Patrick Corcoran

Jesse L. Williams

Michael Corcoran

Cheryl N. Sarlund

Mark A. Burnheimer

Jonathan R. Moothart

TIPS

LEGAL TERMS

REAFFIRMATION

401(K) PLAN

CREDIT FILE

UNDUE HARDSHIP

WORKOUT

SUBROGATION

ADMINISTRATIVE EXPENSES

NONDISCHARGEABLE DEBTS

WINDING UP

SAMPLE LEGAL CASES

RDM Holdings, Ltd. v. Continental Plastics Co.

Gulf Underwriters Ins. Co. v. McCLAIN INDUSTRIES, INC.

MICHIGAN COMMERCE BANK v. PALMS INVESTMENTS, LLC

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