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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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Marshall D. Schultz

Foreclosure, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

29777 Telegraph Rd, Southfield, MI 48034

Jeffrey B. Linden

Divorce, Elder Law, Contract, Credit & Debt

Status: In Good Standing Licensed: 31 Years

CONTACT

30150 Telegraph Rd, Franklin, MI 48025

Joel D. Applebaum

Electronic Commerce, Contract, Business, Credit & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

151 S Old Woodward Ave, Birmingham, MI 48009

Ian Redmond

Foreclosure, Litigation, Business, Credit & Debt

Status: In Good Standing Licensed: 17 Years

CONTACT

3155 W Big Beaver Rd, Troy, MI 48084

Morris B. Lefkowitz

Bankruptcy, Business Organization, Real Estate, Credit & Debt

Status: In Good Standing Licensed: 44 Years

CONTACT

29777 Telegraph Rd, Southfield, MI 48034

Kenneth L. Gross

Social Security, Employee Rights, Elder Law, Contract, Credit & Debt

Status: In Good Standing

CONTACT

30150 Telegraph Rd, Franklin, MI 48025

Douglas F. Duchek

Real Estate, Civil Rights, Corporate, Credit & Debt

Status: In Good Standing

CONTACT

Birmingham, MI 48012

Michelle C Harrell

Civil Rights, Contract, Credit & Debt, Defamation & Slander

Status: In Good Standing

CONTACT

28400 Northwestern Hwy, Southfield, MI 48034

Trevor M. Stratton

Credit & Debt, Collection, Consumer Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 20 Years

FREE CONSULTATION

CONTACT

Farmington, MI 48336

Elizabeth Marie Smith

Real Estate, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

28405 Van Dyke Ave, Warren, MI 48093

800-923-0641

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LEGAL TERMS

CCCS

See Consumer Credit Counseling Service.

FDCPA

See Fair Debt Collections & Practices Act.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

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.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

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.

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Detroit Credit & Debt Lawyer, Michigan, page 7

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Marshall D. Schultz

Jeffrey B. Linden

Joel D. Applebaum

Ian Redmond

Morris B. Lefkowitz

Kenneth L. Gross

Douglas F. Duchek

Michelle C Harrell

Trevor M. Stratton

Elizabeth Marie Smith

TIPS

LEGAL TERMS

CCCS

FDCPA

BULK SALES LAW

HOUSEHOLDER

S CORPORATION

GENERAL PARTNER

401(K) PLAN

DISCHARGEABLE DEBTS

NONEXEMPT PROPERTY

SAMPLE LEGAL CASES

New Freedom Mtg. Corp. v. Globe Mtg. Corp.

Barth v. FIRST CONSUMER CREDIT, INC.

CHARTER ONE BANK NA v. JP Morgan Chase Bank, NA

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