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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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Richard L. Bolhouse

Divorce & Family Law, Consumer Rights, Bankruptcy & Debt, Accident & Injury

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3996 Chicago Drive SW, Grandville, MI 49418

Martin L. Rogalski

Estate Planning, Bankruptcy, Elder Law, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 45 Years

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1881 Georgetown Center Dr, Jenison, MI 49428

Richard L. Bolhouse

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

Status: In Good Standing Licensed: 46 Years

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3996 Chicago Drive S.W., Grandville, MI 49418

Victoria Lynn Smalley

Dispute Resolution, Social Security, Family Law, Credit & Debt

Status: In Good Standing Licensed: 9 Years

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3996 Chicago Dr Sw, Grandville, MI 49418

Scott Mancinelli

Business, Divorce & Family Law, Estate, Bankruptcy & Debt, Accident & Injury

Status: In Good Standing Licensed: 30 Years

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10500 Chicago Drive, Zeeland, MI 49464

Jeffrey L. Hampel

Family Law, Wills & Probate, DUI-DWI, Personal Injury, Bankruptcy & Debt

Status: In Good Standing Licensed: 47 Years

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2000 28th Street S.W., Wyoming, MI 49519

Tiffany Suzanne Baker

Motor Vehicle, Administrative Law, Collection, Consumer Bankruptcy

Status: In Good Standing Licensed: 11 Years

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1515 28Th St Sw, Grand Rapids, MI 49509

Catherine Jones-Rikkers

Estate Planning, Labor Law, Employment, Consumer Bankruptcy

Status: In Good Standing Licensed: 35 Years

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1 College Landing, Allendale, MI 49401

800-923-0641

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LEGAL TERMS

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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.

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.

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.

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.

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.

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.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

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.

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Hudsonville Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Richard L. Bolhouse

Martin L. Rogalski

Richard L. Bolhouse

Victoria Lynn Smalley

Scott Mancinelli

Jeffrey L. Hampel

Tiffany Suzanne Baker

Catherine Jones-Rikkers

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LEGAL TERMS

NONEXEMPT PROPERTY

WINDING UP

MEANS TEST

TOXIC TORT

CHAPTER 13 BANKRUPTCY

BANKRUPTCY TRUSTEE

WORKOUT

PREFERENCE

NONDISCHARGEABLE DEBTS

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