Saranac Bankruptcy & Debt Lawyer, Michigan, page 2

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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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Nicholas George Kacher

Employee Rights, Securities, Bankruptcy, Products Liability, Health Care Other

Status: In Good Standing Licensed: 19 Years

CONTACT

452 Ada Dr Se, Ada, MI 49301

Phillip K. Yeager

Reinsurance, Business, Collection, Accident & Injury

Status: In Good Standing Licensed: 43 Years

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7138 Bridgewater Dr Se, Grand Rapids, MI 49546

Ryan Tyler Jackson

Foreclosure, Estate, Family Law, Bankruptcy

Status: In Good Standing Licensed: 16 Years

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3928 Maplecrest Ct Se, Grand Rapids, MI 49546

Thomas A. Bruinsma

Consumer Rights, Consumer Bankruptcy, Animal Bite, Accident & Injury

Status: In Good Standing Licensed: 34 Years

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6812 Old 28Th St Se, Grand Rapids, MI 49546

Herbert R. Tanner

Lawsuit & Dispute, Divorce & Family Law, Reorganization, Accident & Injury

Status: In Good Standing Licensed: 38 Years

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7872 Emery Rd, Portland, MI 48875

Phillip C. Rogers

Consumer Protection, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 42 Years

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2851 Charlevoix Dr Se, Grand Rapids, MI 49546

Amanda Marie Sneathen

Real Estate, Industry Specialties, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

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1575 Arboretum Dr Se, Grand Rapids, MI 49546

Amy Brooke Winkelman

Real Estate, Biotechnology, Antitrust, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

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1575 Arboretum Dr Se, Grand Rapids, MI 49546

Randall R. Grit

Workers' Compensation, Employment, Credit & Debt

Status: In Good Standing Licensed: 37 Years

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539 W Abbey Mill Dr Se, Ada, MI 49301

Larry A. Ver Merris

International Tax, Trusts, Contract, Collection

Status: In Good Standing Licensed: 46 Years

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825 Parchment Dr Se, Grand Rapids, MI 49546

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LEGAL TERMS

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.

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.

CREDITOR

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

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).

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.

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.

GARNISHMENT

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if ... (more...)

A court-ordered process that takes property from a person to satisfy a debt. For example, a person who owes money to a creditor may have her wages garnished if she loses a lawsuit filed by the creditor. Up to 25% of a person's wages can be deducted.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

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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Saranac Bankruptcy & Debt Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Nicholas George Kacher

Phillip K. Yeager

Ryan Tyler Jackson

Thomas A. Bruinsma

Herbert R. Tanner

Phillip C. Rogers

Amanda Marie Sneathen

Amy Brooke Winkelman

Randall R. Grit

Larry A. Ver Merris

TIPS

LEGAL TERMS

MEANS TEST

CURRENT MONTHLY INCOME

CREDITOR

LIEN

S CORPORATION

MEETING OF CREDITORS

GARNISHMENT

TRADE DRESS

SECURED DEBT

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