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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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Steven M. Hyder

Contract, Credit & Debt, Family Law, Construction, Child Custody

Status: In Good Standing Licensed: 19 Years

CONTACT

14930 Laplaisance Rd, Monroe, MI 48161

Rebecca A Hernandez

Bankruptcy, Consumer Bankruptcy, Criminal

Status: In Good Standing Licensed: 13 Years

CONTACT

918 Osgood St, Monroe, MI 48161

Patrick T. Clement

Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 25 Years

CONTACT

898 S Telegraph Rd, Monroe, MI 48161

Bryan Yaldou

Bankruptcy & Debt, Estate, Accident & Injury

Status: In Good Standing Licensed: 17 Years

CONTACT

23000 Telegraph Rd, Flat Rock, MI 48134

Eugene Ferguson

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

Status: In Good Standing Licensed: 41 Years

CONTACT

3253 West Rd, Trenton, MI 48183

Michael R. Yales

Health Care, Family Law, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 38 Years

CONTACT

Monroe, MI 48161

James K. Kersten

Criminal, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 43 Years

CONTACT

9580 Hawthorne Glen Dr, Grosse Ile, MI 48138

Stephen J. Smith

Workers' Compensation, Contract, Collection, Wrongful Death

Status: In Good Standing Licensed: 51 Years

CONTACT

8841 Macomb St, Grosse Ile, MI 48138

Scott P. Mussin

Civil Rights, Contract, Collection, Wrongful Death

Status: In Good Standing Licensed: 20 Years

CONTACT

13351 Reeck Ct, Southgate, MI 48195

Aaron Daniel Cox

Commercial Real Estate, Landlord-Tenant, Family Law, Collection

Status: In Good Standing Licensed: 18 Years

CONTACT

23820 Eureka Rd, Taylor, MI 48180

800-923-0641

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

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.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

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.

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.

LIQUIDATING PARTNER

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

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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Newport Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Steven M. Hyder

Rebecca A Hernandez

Patrick T. Clement

Bryan Yaldou

Eugene Ferguson

Michael R. Yales

James K. Kersten

Stephen J. Smith

Scott P. Mussin

Aaron Daniel Cox

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LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

GARNISHMENT

CHAPTER 7 BANKRUPTCY

REPOSSESSION

ADMINISTRATIVE EXPENSES

WINDING UP

LIQUIDATING PARTNER

FRAUDULENT TRANSFER

SECURED DEBT

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