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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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Scott Donovan Skinner

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

Status: Licensed: 12 Years

CONTACT

26711 Woodward Ave, Huntington Woods, MI 48070

Manvinder S. Talwar

Federal Appellate Practice, Criminal, Contract, Credit & Debt

Status: Licensed: 25 Years

CONTACT

511 Olde Towne Rd, Rochester, MI 48308

Kenneth A. Vannorwick

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

Status: Licensed: 25 Years

CONTACT

2787 Rambling Way, Bloomfield Hills, MI 48302

John D. Hertzberg

Foreclosure, Litigation, Contract, Credit & Debt

Status: Licensed: 40 Years

CONTACT

4190 Telegraph Rd, Bloomfield Hills, MI 48302

Julie M. Skidmore

Credit & Debt, Bankruptcy, Consumer Bankruptcy

Status:

CONTACT

755 W Big Beaver Rd, Troy, MI 48084

Aaron Sheinfield

Bankruptcy & Debt, Bankruptcy, Collection, Credit & Debt

CONTACT

4000 Town Center, Southfield, MI 48075

Ian Sean Bolton

Construction, Banking & Finance, Credit & Debt, Defamation & Slander

Status:

CONTACT

24361 Greenfield Rd, Southfield, MI 48075

Andrew Roberts Mikos

Personal Injury, Consumer Bankruptcy, Criminal, Credit & Debt

Status: Licensed: 23 Years

CONTACT

17200 W 10 Mile Rd, Southfield, MI 48075

Jeffrey B. Linden

Credit & Debt, Contract, Elder Law, Divorce, Trusts

Status: Licensed: 32 Years

CONTACT

30150 Telegraph Rd, Franklin, MI 48025

Michelle A. King

Litigation, Credit & Debt, Collection, Bankruptcy

Status: Licensed: 17 Years

CONTACT

26304 Grobbel Ave, Warren, MI 48091

800-814-6700

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LEGAL TERMS

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

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.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

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.

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.

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Troy Credit & Debt Lawyer, Michigan, page 4

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Scott Donovan Skinner

Manvinder S. Talwar

Kenneth A. Vannorwick

John D. Hertzberg

Julie M. Skidmore

Aaron Sheinfield

Ian Sean Bolton

Andrew Roberts Mikos

Jeffrey B. Linden

Michelle A. King

TIPS

LEGAL TERMS

GENERAL PARTNER

SOLE PROPRIETORSHIP

DEFINED CONTRIBUTION PLAN

MEANS TEST

ABUSE

LIMITED LIABILITY

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

DISPOSABLE INCOME

CHAPTER 7 BANKRUPTCY

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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