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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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Joseph Allen Kidd

International Other, Computer Law, Corporate, Commercial Bankruptcy

Status: In Good Standing Licensed: 29 Years

CONTACT

One American Way, Dearborn, MI 48126

Samer M. Fakih

Real Estate, Litigation, Business, Collection

Status: In Good Standing Licensed: 19 Years

CONTACT

16030 Michigan Ave, Dearborn, MI 48126

Michael Zachary Longo

Litigation, Family Law, Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

16030 Michigan Ave, Dearborn, MI 48126

Alexandra Regan Abernethy

Labor Law, Consumer Bankruptcy

Status: In Good Standing

CONTACT

1 American Rd, Dearborn, MI 48126

Frank Patrick Moran

Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

1 American Rd, Dearborn, MI 48126

Arius Marce Webb

Real Estate, Reinsurance, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

1 American Rd, Dearborn, MI 48126

Jamil Mourad

Health Care Other, Insurance, Collection, Litigation

Status: In Good Standing

CONTACT

3 Parklane Blvd, Dearborn, MI 48126

Abathar Nazar Alkudari

International, Administrative Law, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

3 Parklane Blvd, Dearborn, MI 48126

Matthew Leo Barrett

Biotechnology, Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

4 Parklane Blvd, Dearborn, MI 48126

Matthew Leo Barrett

Biotechnology, Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

4 Parklane Blvd, Dearborn, MI 48126

800-923-0641

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LEGAL TERMS

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

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.

DOING BUSINESS AS (DBA)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or ... (more...)

A situation in which a business owner operates a company under a name different from his or her real name. The owner must file a 'fictitious name statement' or similar document with the appropriate agency -- for example, the county clerk. This enables consumers to discover the names of the business owners, which is important if a consumer needs to sue the business.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

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.

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.

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Dearborn Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Joseph Allen Kidd

Samer M. Fakih

Michael Zachary Longo

Alexandra Regan Abernethy

Frank Patrick Moran

Arius Marce Webb

Jamil Mourad

Abathar Nazar Alkudari

Matthew Leo Barrett

Matthew Leo Barrett

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LEGAL TERMS

NONPROFIT CORPORATION

SETOFF

REDEMPTION

DOING BUSINESS AS (DBA)

CREDIT COUNSELING

CREDIT INSURANCE

REAFFIRMATION

SOLE PROPRIETORSHIP

DEBT COLLECTOR

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