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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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John A. Potter

US Courts, Divorce, Bankruptcy & Debt, Personal Injury

Status: Licensed: 38 Years

FREE CONSULTATION

CONTACT

161 Ottawa Avenue, NW, Grand Rapids, MI 49503

Jeffrey L. Hampel

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

Status: Licensed: 48 Years

FREE CONSULTATION

CONTACT

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

Bryan Reeder

Trusts, Family Law, Administrative Law, Bankruptcy

Status:

CONTACT

124 Fulton St E, Grand Rapids, MI 49503

Robert E. Lee Wright

Contract, Bankruptcy, Wrongful Death, Employee Rights

Status: Licensed: 45 Years

CONTACT

25 Division Ave S, Grand Rapids, MI 49503

David Edward Szostek

Litigation, Intellectual Property, Business, Credit & Debt

Status: Licensed: 11 Years

CONTACT

2010 44th St SE, Grand Rapids, MI 49508

Brian E. Kersey

Electronic Commerce, Aviation, Business, Credit & Debt

Status: Licensed: 25 Years

CONTACT

99 Monroe Ave Nw, Grand Rapids, MI 49503

Karen M. Tjapkes

Other, Federal Appellate Practice, Consumer Rights, Consumer Bankruptcy

Status: Licensed: 25 Years

CONTACT

25 Division Ave South, Grand Rapids, MI 49503

Jason Thomas O'Brien

Landlord-Tenant, Medicare & Medicaid, Social Security, Collection

Status: Licensed: 19 Years

CONTACT

25 Division Ave South, Grand Rapids, MI 49503

Wade Mcconnell

Collection, Civil Rights, Child Custody, Landlord-Tenant

Status:

CONTACT

44 Grandville Avenue Sw, Grand Rapids, MI 49503

John E. Anding

Litigation, Lawsuit & Dispute, Federal, Business, Consumer Bankruptcy

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CONTACT

80 Ottawa Avenue, Nw, Grand Rapids, MI 49503

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LEGAL TERMS

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

FCBA

See Fair Credit Billing Act.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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Grand Rapids Bankruptcy & Debt Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

John A. Potter

Jeffrey L. Hampel

Bryan Reeder

Robert E. Lee Wright

David Edward Szostek

Brian E. Kersey

Karen M. Tjapkes

Jason Thomas O'Brien

Wade Mcconnell

John E. Anding

TIPS

LEGAL TERMS

DISCHARGE (OF DEBTS)

CREDIT INSURANCE

UNSECURED DEBT

IRS EXPENSES

MEANS TEST

DISCHARGEABLE DEBTS

FCBA

LIABILITY

C CORPORATION

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