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

David J. Anderson

Real Estate, Agriculture, Elder Law, Bankruptcy

Status: Licensed: 48 Years

CONTACT

320 W Ottawa St, Lansing, MI 48933

Deborah Pitluk Ecker

Employee Rights, Corporate, Business, Bankruptcy

Status: Licensed: 72 Years

CONTACT

625 S. State Street, Ann Arbor, MI 48109

Dehai Tao

International Other, Immigration, Commercial Bankruptcy

Status: Licensed: 33 Years

CONTACT

24 Frank Lloyd Wright Dr, Ann Arbor, MI 48105

Denis F. Jodis

Workers' Compensation, Contract, Bankruptcy, Medical Malpractice

Status:

CONTACT

216 N. Main Street, Adrian, MI 49221

Dennis B. Barrett

DUI-DWI, Identity Theft, Bankruptcy, Animal Bite

Status: Licensed: 25 Years

CONTACT

6810 S Cedar St, Lansing, MI 48911

Dennis E. Path

Real Estate, Divorce & Family Law, Criminal, Administrative Law, Bankruptcy

Status: Licensed: 41 Years

CONTACT

4121 Okemos Rd, Okemos, MI 48864

Dominic N. Hamden

Landlord-Tenant, Estate Planning, Family Law, Bankruptcy

Status: Licensed: 21 Years

CONTACT

18 W Main St, Milan, MI 48160

Donald Lee Mcwhorter

Bankruptcy, Personal Injury, Family Law, Litigation

Status: Licensed: 39 Years

CONTACT

910 Gadwall Way, Chelsea, MI 48118

Donnelly W. Hadden

Environmental Law, Consumer Rights, Consumer Bankruptcy, Accident & Injury

Status: Licensed: 64 Years

CONTACT

2002 Bancroft Dr, Ann Arbor, MI 48108

Doron Yitzchaki

Litigation, Lawsuit & Dispute, Business, Bankruptcy

Status:

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350 S Main St, Ann Arbor, MI 48104

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LEGAL TERMS

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

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.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

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.

FDCPA

See Fair Debt Collections & Practices Act.

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.

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Jackson Bankruptcy Lawyer, Michigan, page 6

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

David J. Anderson

Deborah Pitluk Ecker

Dehai Tao

Denis F. Jodis

Dennis B. Barrett

Dennis E. Path

Dominic N. Hamden

Donald Lee Mcwhorter

Donnelly W. Hadden

Doron Yitzchaki

TIPS

LEGAL TERMS

PRESUMED ABUSE

NONPROFIT CORPORATION

PREFERENCE

COSIGNER

MEETING OF CREDITORS

C CORPORATION

FDCPA

COLLATERAL

REAFFIRMATION

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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