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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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Thomas Paluchniak

Collection, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status:

CONTACT

712 Stanley St, Ypsilanti, MI 48198

Sheryl A. Shoebottom

Bankruptcy, Collection, Credit & Debt, Tax

Status:

FREE CONSULTATION

CONTACT

30161 Southfield Road, Southfield, MI 48076

Aaron Daniel Cox

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

Status: Licensed: 19 Years

CONTACT

23820 Eureka Rd, Taylor, MI 48180

Scott P. Mussin

Civil Rights, Contract, Collection, Wrongful Death

Status: Licensed: 21 Years

CONTACT

13351 Reeck Ct, Southgate, MI 48195

Lora Ann Mcparland-savoie

Family Law, Divorce, Criminal, Collection

Status: Licensed: 10 Years

CONTACT

21917 Garrison St, Dearborn, MI 48124

Christopher Raymond Shemke

Elder Law, Insurance, Collection, Personal Injury

Status: Licensed: 15 Years

CONTACT

24400 Ford Rd, Dearborn Heights, MI 48127

William L. Orlewicz

Federal Appellate Practice, Criminal, Business, Collection

Status: Licensed: 14 Years

CONTACT

1 Parklane Blvd, Dearborn, MI 48126

Christina R. Mcphail

Workers' Compensation, Contract, Collection, Wrongful Death

Status: Licensed: 18 Years

CONTACT

23224 Joy Rd, Redford, MI 48239

Stephen J. Smith

Workers' Compensation, Contract, Collection, Wrongful Death

Status: Licensed: 52 Years

CONTACT

8841 Macomb St, Grosse Ile, MI 48138

Michael Ian Tinney

Criminal, Collection

Status: Licensed: 11 Years

CONTACT

22190 Garrison St, Dearborn, MI 48124

800-814-6700

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LEGAL TERMS

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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.

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.

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.

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.

FAIR CREDIT BILLING ACT (FCBA)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days af... (more...)

A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.

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.

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.

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Taylor Collection Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Thomas Paluchniak

Sheryl A. Shoebottom

Aaron Daniel Cox

Scott P. Mussin

Lora Ann Mcparland-savoie

Christopher Raymond Shemke

William L. Orlewicz

Christina R. Mcphail

Stephen J. Smith

Michael Ian Tinney

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LEGAL TERMS

DISPOSABLE INCOME

SOLE PROPRIETORSHIP

IRS EXPENSES

PRESUMED ABUSE

UNSECURED DEBT

MEANS TEST

FAIR CREDIT BILLING ACT (FCBA)

PRIORITY DEBT

GARNISHMENT

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