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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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Jessica L. Davis

Estate Planning, Employee Rights, Elder Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

1901 Saint Antoine St, Detroit, MI 48226

Melissa Ann Kliemann

Collection, Children's Rights, Criminal

Status: In Good Standing Licensed: 9 Years

CONTACT

500 Griswold St, Detroit, MI 48226

Blair A. Person

Real Estate, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

535 Griswold St, Detroit, MI 48226

Miriam S. Imerman

Estate Planning, Estate, Non-profit, Reorganization

Status: In Good Standing Licensed: 39 Years

CONTACT

7800 W Outer Dr, Detroit, MI 48235

Charles Lawrence Basch

Foreclosure, Garnishment, Workout, Consumer Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

100 Kercheval, Grosse Pointe Farms, MI 48236

Ryan Michael Dempsey

Estate Planning, Employee Rights, Elder Law, Consumer Bankruptcy

Status: In Good Standing

CONTACT

17000 Kercheval Ave, Grosse Pointe, MI 48230

Cheryl Verran Jordan

Construction, Employee Rights, Administrative Law, Collection

Status: In Good Standing Licensed: 17 Years

CONTACT

12225 Stephens Rd, Warren, MI 48089

Aric K. Melder

Litigation, Adoption, Criminal, Collection, Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

2304 E 11 Mile Rd, Royal Oak, MI 48067

Sanford J. Melder

Adoption, Corporate, Collection, Bankruptcy

Status: In Good Standing Licensed: 51 Years

CONTACT

2304 E 11 Mile Rd, Royal Oak, MI 48067

Martin P. Krall

Dispute Resolution, Government Agencies, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

21 Kercheval Ave, Grosse Pointe, MI 48236

800-923-0641

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LEGAL TERMS

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

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.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

ABUSE

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because ... (more...)

Misuse of the Chapter 7 bankruptcy remedy. This term is typically applied to Chapter 7 bankruptcy filings that should have been filed under Chapter 13, because the debtor appears to have enough disposable income to fund a Chapter 13 repayment plan.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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Detroit Bankruptcy & Debt Lawyer, Michigan, page 7

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Jessica L. Davis

Melissa Ann Kliemann

Blair A. Person

Miriam S. Imerman

Charles Lawrence Basch

Ryan Michael Dempsey

Cheryl Verran Jordan

Aric K. Melder

Sanford J. Melder

Martin P. Krall

TIPS

LEGAL TERMS

FORBEARANCE

FRAUDULENT TRANSFER

TRUTH IN LENDING ACT (TILA)

PRIORITY DEBT

ABUSE

NONEXEMPT PROPERTY

BANKRUPTCY TRUSTEE

S CORPORATION

NONDISCHARGEABLE DEBTS

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