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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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3. Articles
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Michelle C Harrell

Civil Rights, Contract, Credit & Debt, Defamation & Slander

Status: In Good Standing

CONTACT

28400 Northwestern Hwy, Southfield, MI 48034

Barnet George Levine

Foreclosure, Family Law, Contract, Credit & Debt

Status: In Good Standing Licensed: 10 Years

CONTACT

5454 Jessalee Cir, East Lansing, MI 48823

Jeffrey T. Justin

Corporate, Banking & Finance, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing Licensed: 35 Years

CONTACT

25505 W 12 Mile Rd, Southfield, MI 48034

Jerrilann S. Danton

Bankruptcy, Consumer Bankruptcy, Credit & Debt, Workout

Status: Suspended Licensed: 29 Years

CONTACT

29777 Telegraph Rd, Southfield, MI 48034

Jacob Daniel High

Landlord-Tenant, Traffic, Civil Rights, Credit & Debt

Status: In Good Standing Licensed: 12 Years

CONTACT

6440 Lake Meadow Dr, Waterford, MI 48327

Thomas R. Nathan

Bankruptcy, Banking & Finance, Credit & Debt

Status: In Good Standing Licensed: 18 Years

CONTACT

29100 Northwestern Hwy, Southfield, MI 48034

Andrew J. Gerdes

Real Estate, Business, Credit & Debt, Collection

Status: In Good Standing Licensed: 32 Years

CONTACT

416 N Homer St, Lansing, MI 48912

Daniel J. Hude

Landlord-Tenant, Litigation, Banking & Finance, Credit & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

Lansing, MI 48909

Michael R Bell

Tax, Federal Appellate Practice, Administrative Law, Credit & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

Lansing, MI 48909

Michael R. Bell

Tax, Federal Appellate Practice, Administrative Law, Credit & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

Lansing, MI 48909

800-923-0641

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LEGAL TERMS

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.

GUARANTEED RESERVATION

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehic... (more...)

A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you don't show up and haven't cancelled your reservation, you will be billed for one night in the room or one day's use of the vehicle.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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.

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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Manchester Credit & Debt Lawyer, Michigan, page 5

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Michelle C Harrell

Barnet George Levine

Jeffrey T. Justin

Jerrilann S. Danton

Jacob Daniel High

Thomas R. Nathan

Andrew J. Gerdes

Daniel J. Hude

Michael R Bell

Michael R. Bell

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LEGAL TERMS

MEANS TEST

GUARANTEED RESERVATION

ACCORD AND SATISFACTION

LIMITED LIABILITY

PRESUMED ABUSE

UNDUE HARDSHIP

TOXIC TORT

REDEMPTION

ADMINISTRATIVE EXPENSES

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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