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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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Thomas B. Baynton

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

I fight for you! Let My 29 Years of Experience Work For You!

At the Law Office of Thomas Baynton PLLC, Thomas Baynton is an experienced attorney serving the people of West Michigan. If you have been charged with... (more)

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800-920-2701

PO Box 230096, Grand Rapids, MI 49503

James R. Oppenhuizen

Bankruptcy, Estate Planning, Family Law, Litigation

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125 Ottawa Ave. Nw, Grand Rapids, MI 49503

Greg J. Ekdahl

Litigation, Business Organization, Bankruptcy, Bankruptcy & Debt

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230 East Fulton Street, Grand Rapids, MI 49503

Michael D. Almassian

Insurance, Corporate, Credit & Debt, Bankruptcy

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230 East Fulton Street, Grand Rapids, MI 49503

A. Todd Almassian

Litigation, Employment, Corporate, Bankruptcy

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230 East Fulton Street, Grand Rapids, MI 49503

James M. Keller

Corporate, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

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230 East Fulton Street, Grand Rapids, MI 49503

Kelly G. Lambert

Traffic, Family Law, Divorce, Bankruptcy

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330 Fuller Avenue N.E., Grand Rapids, MI 49503

C Mark Stoppels

Business Organization, Collection, Banking & Finance, Wills & Probate

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825 Parchment Drive S. E., Grand Rapids, MI 49546

Steven L. Williams

Alimony & Spousal Support, Banking & Finance, Bankruptcy, Bankruptcy Litigation

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977 ADA Place Drive SE, Grand Rapids, MI 49546

Jon Dallas Stratman

Bankruptcy, Bankruptcy & Debt

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866 3 Mile Road, N.W., Grand Rapids, MI 49544

800-923-0641

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LEGAL TERMS

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

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.

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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).

Grand Rapids Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Thomas B. Baynton

James R. Oppenhuizen

Greg J. Ekdahl

Michael D. Almassian

A. Todd Almassian

James M. Keller

Kelly G. Lambert

C Mark Stoppels

Steven L. Williams

Jon Dallas Stratman

TIPS

LEGAL TERMS

UNSECURED DEBT

DEBIT CARD

IRS EXPENSES

LIABILITY

REDEMPTION

CREDIT BUREAU

SOLE PROPRIETORSHIP

LIEN

FDCPA

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