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

Ryan Edward Ladley

Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

39319 Plymouth Rd, Livonia, MI 48150

Lisa M. Manoogian

Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

39319 Plymouth Rd, Livonia, MI 48150

Adel T. Fakhouri

Mediation, Estate Planning, Bankruptcy, Personal Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

26300 Telegraph Road, Southfield, MI 48033

Darin Kurt Weinberg

Divorce & Family Law, Criminal, Bankruptcy, Accident & Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

38110 N. Executive Drive, Westland, MI 48185

Jerrilann S. Danton

Bankruptcy, Consumer Bankruptcy, Credit & Debt, Workout

Status: In Good Standing

FREE CONSULTATION

CONTACT

29777 Telegraph Road, Southfield, MI 48034

Julie A. Smyk

Foreclosure, Workout, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

29777 Telegraph Road, Southfield, MI 48034

Eric D. Novetsky

Other, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

27777 Franklin Road, Southfield, MI 48034

Paul R. Hage

Business, Bankruptcy

Status: In Good Standing

CONTACT

27777 Franklin Road, Southfield, MI 48034

Jay L. Welford

Corporate, Business Organization, Banking & Finance, Bankruptcy

Status: In Good Standing

CONTACT

27777 Franklin Road, Southfield, MI 48034

Jonathan C. Myers

Bankruptcy

Status: In Good Standing

CONTACT

27777 Franklin Road, Southfield, MI 48034

800-923-0641

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LEGAL TERMS

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

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.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

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.

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Livonia Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Ryan Edward Ladley

Lisa M. Manoogian

Adel T. Fakhouri

Darin Kurt Weinberg

Jerrilann S. Danton

Julie A. Smyk

Eric D. Novetsky

Paul R. Hage

Jay L. Welford

Jonathan C. Myers

TIPS

LEGAL TERMS

TRADE NAME

NONEXEMPT PROPERTY

DISCHARGEABLE DEBTS

DISCHARGE (OF DEBTS)

CURRENT MONTHLY INCOME

MEANS TEST

DISPOSABLE INCOME

LIMITED LIABILITY

REDEMPTION

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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