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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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David M. Blau

Bankruptcy, Real Estate

Status: In Good Standing

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25800 Northwestern Hwy, Southfield, MI 48075

Lawrence Lucido

Real Estate, Estate, Bankruptcy & Debt

Status: In Good Standing

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Lucido Law Firm, Hazel Park, MI 48030

Sheryl A. Shoebottom

Bankruptcy, Collection, Credit & Debt, Tax

Status: In Good Standing

FREE CONSULTATION

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30161 Southfield Road, Southfield, MI 48076

Adam L. Wiener

Bankruptcy & Debt

Status: In Good Standing Licensed: 35 Years

FREE CONSULTATION

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29501 Greenfield Rd, Southfield, MI 48076

Donald G. McGuigan II

Divorce & Family Law, Criminal, Bankruptcy & Debt, DUI-DWI

Status: In Good Standing Licensed: 31 Years

FREE CONSULTATION

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24750 Lahser Road, Southfield, MI 48033

Erica Cicchelli

Alimony & Spousal Support, Child Support, Collection, Consumer Bankruptcy

Status: In Good Standing Licensed: 22 Years

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15900 W 10 Mile Rd, Southfield, MI 48075

Aric K. Melder

Litigation, Adoption, Criminal, Collection, Bankruptcy

Status: In Good Standing Licensed: 28 Years

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2304 E 11 Mile Rd, Royal Oak, MI 48067

Sanford J. Melder

Adoption, Corporate, Collection, Bankruptcy

Status: In Good Standing Licensed: 51 Years

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2304 E 11 Mile Rd, Royal Oak, MI 48067

Martin L. Fried

Bankruptcy & Debt, Real Estate, Landlord-Tenant, Litigation

Status: In Good Standing Licensed: 52 Years

FREE CONSULTATION

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4000 Town Ctr, Southfield, MI 48075

John Little

Criminal, Bankruptcy & Debt, Real Estate, Estate

Status: In Good Standing

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333 West 7Th Street, Royal Oak, MI 48067

800-923-0641

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LEGAL TERMS

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.

CURRENT MONTHLY INCOME

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding... (more...)

As defined by the new bankruptcy law, a bankruptcy filer's total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor's current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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.

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.

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Berkley Bankruptcy & Debt Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

David M. Blau

Lawrence Lucido

Sheryl A. Shoebottom

Adam L. Wiener

Donald G. McGuigan II

Erica Cicchelli

Aric K. Melder

Sanford J. Melder

Martin L. Fried

John Little

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LEGAL TERMS

BULK SALES LAW

CURRENT MONTHLY INCOME

BANKRUPTCY TRUSTEE

BANKRUPTCY

LIQUIDATING PARTNER

SECRET WARRANTY PROGRAM

WORKOUT

PRESUMED ABUSE

DISPOSABLE INCOME

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