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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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Peter J. Lyons

Criminal, Collection, Freedom of Religion

Status: In Good Standing Licensed: 49 Years

CONTACT

812 Douglas St, Boyne City, MI 49712

Wanda S. Losher

Collection, Divorce & Family Law, Estate, Criminal

Status: In Good Standing Licensed: 10 Years

CONTACT

East Jordan, MI 49727

John P. Ternes

Real Estate, Elder Law, Estate Planning, Credit & Debt

Status: Inactive Licensed: 70 Years

CONTACT

1101 N Us Highway 31, Petoskey, MI 49770

Joel D. Wurster

Construction, Trusts, Contract, Collection

Status: In Good Standing Licensed: 31 Years

CONTACT

214 1/2 Park Ave, Petoskey, MI 49770

Robert William Mendham

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law, Landlord-Tenant

Status: In Good Standing Licensed: 23 Years

CONTACT

406 Petoskey Street, Petoskey, MI 49770

Ryan Robert Charles

Consumer Rights, Business, Consumer Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 17 Years

CONTACT

2001 M 119, Petoskey, MI 49770

Timothy Smith

Contract, Bankruptcy, Personal Injury, Workers' Compensation

Status: Inactive Licensed: 15 Years

CONTACT

5018 River Rd, Petoskey, MI 49770

Jonathan R. Moothart

Litigation, Federal Appellate Practice, Contract, Consumer Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

9815 Miami Beach Rd, Williamsburg, MI 49690

William Paul Slough

Litigation, Estate Planning, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

Gaylord, MI 49734

George J. Mertz

Criminal, Collection, Litigation

Status: In Good Standing Licensed: 22 Years

CONTACT

225 W Main St, Gaylord, MI 49735

800-923-0641

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LEGAL TERMS

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.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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Charlevoix Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Peter J. Lyons

Wanda S. Losher

John P. Ternes

Joel D. Wurster

Robert William Mendham

Ryan Robert Charles

Timothy Smith

Jonathan R. Moothart

William Paul Slough

George J. Mertz

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LEGAL TERMS

BANKRUPTCY

MEETING OF CREDITORS

DEBIT CARD

ADMINISTRATIVE EXPENSES

FRAUDULENT TRANSFER

C CORPORATION

REDEMPTION

IRS EXPENSES

SECURED DEBT

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