Drayton Plains Credit & Debt Lawyer, Michigan

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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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Sandra K. Alexander

Real Estate, Estate Planning, Business, Credit & Debt

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7125 Orchard Lake Road, West Bloomfield, MI 48322

J. Kyle Guthrie

Corporate, Credit & Debt, Employment, Real Estate

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FREE CONSULTATION

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4050 W Maple Rd Ste 108, Bloomfield Hills, MI 48301

David R. Shook

Contract, Business, Credit & Debt, Collection

Status: Licensed: 32 Years

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6480 Citation Dr, Clarkston, MI 48346

Jacob Daniel High

Landlord-Tenant, Traffic, Civil Rights, Credit & Debt

Status: Licensed: 13 Years

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6440 Lake Meadow Dr, Waterford, MI 48327

Kenneth A. Vannorwick

Landlord-Tenant, Estate Planning, Business, Credit & Debt

Status: Licensed: 25 Years

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2787 Rambling Way, Bloomfield Hills, MI 48302

John D. Hertzberg

Foreclosure, Litigation, Contract, Credit & Debt

Status: Licensed: 40 Years

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4190 Telegraph Rd, Bloomfield Hills, MI 48302

Ryan Mahlon Moldovan

Other, Credit & Debt, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy & Debt

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189 W Clarkston Rd, Lake Orion, MI 48362

Jeffery Jon Sattler

Litigation, Corporate, Business, Credit & Debt

Status: Licensed: 17 Years

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40950 Woodward Ave, Bloomfield Hills, MI 48304

John Joseph Stockdale

Banking & Finance, Business, Credit & Debt, Bankruptcy

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40950 Woodward Ave, Bloomfield Hills, MI 48304

Kellie M. Blair

Construction, Federal Appellate Practice, Contract, Credit & Debt

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39572 Woodward Ave, Bloomfield Hills, MI 48304

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LEGAL TERMS

COLLATERAL

Property that guarantees payment of a secured debt.

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

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.

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.

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.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

Drayton Plains Credit & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Sandra K. Alexander

J. Kyle Guthrie

David R. Shook

Jacob Daniel High

Kenneth A. Vannorwick

John D. Hertzberg

Ryan Mahlon Moldovan

Jeffery Jon Sattler

John Joseph Stockdale

Kellie M. Blair

TIPS

LEGAL TERMS

COLLATERAL

REAFFIRMATION

PRIORITY DEBT

BANKRUPTCY TRUSTEE

FORBEARANCE

FRAUDULENT TRANSFER

IRS EXPENSES

NO-FAULT INSURANCE

FCBA

SAMPLE LEGAL CASES

New Freedom Mtg. Corp. v. Globe Mtg. Corp.

Barth v. FIRST CONSUMER CREDIT, INC.

CHARTER ONE BANK NA v. JP Morgan Chase Bank, NA

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