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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Lander C. Mcloyd

Wills, Trusts, Estate Planning, Estate, Bankruptcy

Status:

CONTACT

1785 W Stadium Blvd, Ann Arbor, MI 48103

Thomas J. Buiteweg

Biotechnology, Contract, Business, Consumer Bankruptcy

Status: Licensed: 31 Years

CONTACT

3025 Boardwalk St, Ann Arbor, MI 48108

Mitchell A. Goodkin

Entertainment, Labor Law, Business, Consumer Bankruptcy

Status: Licensed: 41 Years

CONTACT

2658 Esch Ave, Ann Arbor, MI 48104

Rebekah Page-Gourley

Litigation, Intellectual Property, Federal Appellate Practice, Consumer Bankruptcy

Status: Licensed: 19 Years

CONTACT

1020 Greene St, Ann Arbor, MI 48109

Jacalen J. Garris

Divorce & Family Law, Consumer Bankruptcy, Bankruptcy, Wrongful Death, Car Accident

Status:

CONTACT

300 E Washington St, Ann Arbor, MI 48104

Judith A. Peters

Consumer Rights, Reorganization, Consumer Bankruptcy, Legal Malpractice

Status: Licensed: 27 Years

CONTACT

428 Sumark Way, Ann Arbor, MI 48103

David A. Santacroce

Litigation, Lawsuit & Dispute, Collection, Consumer Bankruptcy

Status: Licensed: 32 Years

CONTACT

801 Monroe St, Ann Arbor, MI 48109

William G. Tishkoff

Lawsuit & Dispute, Employment, Bankruptcy, Accident & Injury

Status:

CONTACT

407 North Main Street, Ann Arbor, MI 48104

Michael Robert Wolin

Employment, Felony, Bankruptcy, Defamation & Slander

Status:

CONTACT

407 North Main Street, Ann Arbor, MI 48104

Paul D. Reingold

Criminal, Civil Rights, Collection, Consumer Bankruptcy

Status: Licensed: 47 Years

CONTACT

801 Monroe St, Ann Arbor, MI 48109

800-923-0641

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LEGAL TERMS

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

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.

CREDITOR

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

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

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.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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Clinton Bankruptcy Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Lander C. Mcloyd

Thomas J. Buiteweg

Mitchell A. Goodkin

Rebekah Page-Gourley

Jacalen J. Garris

Judith A. Peters

David A. Santacroce

William G. Tishkoff

Michael Robert Wolin

Paul D. Reingold

TIPS

LEGAL TERMS

LIEN

SECURED DEBT

CREDITOR

CHAPTER 13 PLAN

401(K) PLAN

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

BANKRUPTCY

COSIGNER

CHAPTER 13 BANKRUPTCY

SAMPLE LEGAL CASES

RDM Holdings, Ltd. v. Continental Plastics Co.

Gulf Underwriters Ins. Co. v. McCLAIN INDUSTRIES, INC.

MICHIGAN COMMERCE BANK v. PALMS INVESTMENTS, LLC

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