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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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Peter J. Lyons

Criminal, Collection, Freedom of Religion

Status: In Good Standing Licensed: 49 Years

CONTACT

812 Douglas St, Boyne City, MI 49712

Wanda S. Losher

Collection, Divorce & Family Law, Estate, Criminal

Status: In Good Standing Licensed: 10 Years

CONTACT

East Jordan, MI 49727

John P. Ternes

Real Estate, Elder Law, Estate Planning, Credit & Debt

Status: Inactive Licensed: 70 Years

CONTACT

1101 N Us Highway 31, Petoskey, MI 49770

Ryan Robert Charles

Consumer Rights, Business, Consumer Bankruptcy, Accident & Injury

Status: In Good Standing Licensed: 17 Years

CONTACT

2001 M 119, Petoskey, MI 49770

Joel D. Wurster

Construction, Trusts, Contract, Collection

Status: In Good Standing Licensed: 31 Years

CONTACT

214 1/2 Park Ave, Petoskey, MI 49770

Robert William Mendham

Accident & Injury, Bankruptcy & Debt, Criminal, Divorce & Family Law, Landlord-Tenant

Status: In Good Standing Licensed: 23 Years

CONTACT

406 Petoskey Street, Petoskey, MI 49770

William Paul Slough

Litigation, Estate Planning, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

Gaylord, MI 49734

George J. Mertz

Criminal, Collection, Litigation

Status: In Good Standing Licensed: 22 Years

CONTACT

225 W Main St, Gaylord, MI 49735

Bernard J. Caspar

Criminal, Bankruptcy, Divorce, Social Security -- Disability

Status: Inactive Licensed: 47 Years

CONTACT

1852 S Otsego Ave, Gaylord, MI 49734

Timothy Smith

Contract, Bankruptcy, Personal Injury, Workers' Compensation

Status: Inactive Licensed: 15 Years

CONTACT

5018 River Rd, Petoskey, MI 49770

800-923-0641

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LEGAL TERMS

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

CREDITOR

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

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

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.

FDCPA

See Fair Debt Collections & Practices Act.

INFRINGEMENT (OF TRADEMARK)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringeme... (more...)

Unauthorized use of a protected trademark or service mark, or use of something very similar to a protected mark. The success of a lawsuit to stop the infringement turns on whether the defendant's use causes a likelihood of confusion in the average consumer. If a court determines that the average consumer would be confused, the owner of the original mark can prevent the other's use of the infringing mark and sometimes collect damages.

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Boyne Falls Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Peter J. Lyons

Wanda S. Losher

John P. Ternes

Ryan Robert Charles

Joel D. Wurster

Robert William Mendham

William Paul Slough

George J. Mertz

Bernard J. Caspar

Timothy Smith

TIPS

LEGAL TERMS

PRIORITY DEBT

PRESUMED ABUSE

PREFERENCE

CREDITOR

DEBT COLLECTOR

WINDING UP

S CORPORATION

FDCPA

INFRINGEMENT (OF TRADEMARK)

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