Harrietta Reorganization Lawyer, Michigan, page 3

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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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David A. Bieganowski

Business, Collection, Real Estate, Estate

Status: In Good Standing Licensed: 28 Years

CONTACT

400 E Eighth St, Traverse City, MI 49685

David Den Houten

General Practice

Status: In Good Standing Licensed: 25 Years

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129 S Main St, Lake City, MI 49651

David Robert Foote

Real Estate, Employment, Collection, Personal Injury

Status: In Good Standing Licensed: 10 Years

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3495 Morrison Rd Nw, Rapid City, MI 49676

David H. Rowe

Sales & Use Tax, Construction, Contract, Collection

Status: In Good Standing

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202 E State St, Traverse City, MI 49684

David Gregory Boyer

Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

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243 Midtown Dr, Traverse City, MI 49684

David S. Mccurdy

Real Estate, Estate Planning, Business, Bankruptcy

Status: In Good Standing Licensed: 50 Years

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120 W Harris St, Cadillac, MI 49601

David Boyer

Criminal, Bankruptcy & Debt

Status: In Good Standing Licensed: 34 Years

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243 Midtown Dr, Traverse City, MI 49684

David A. Becker

Collection

Status: In Good Standing Licensed: 45 Years

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409 E Eighth St, Traverse City, MI 49686

Dean E. Sheldon

Other, Real Estate, Estate Planning, Bankruptcy & Debt

Status: In Good Standing

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1378 Gold Ct, Traverse City, MI 49696

Frederick R. Bimber

Landlord-Tenant, Trusts, Employee Rights, Credit & Debt

Status: In Good Standing Licensed: 45 Years

CONTACT

1223 Randolph St, Traverse City, MI 49684

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LEGAL TERMS

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

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Harrietta Reorganization Lawyer, Michigan, page 3

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

David A. Bieganowski

David Den Houten

David Robert Foote

David H. Rowe

David Gregory Boyer

David S. Mccurdy

David Boyer

David A. Becker

Dean E. Sheldon

Frederick R. Bimber

TIPS

LEGAL TERMS

AUTOMATIC STAY

REDEMPTION

IRS EXPENSES

PRESUMED ABUSE

401(K) PLAN

BULK SALES LAW

WINDING UP

CREDITOR

PREFERENCE

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