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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

Steven L. Williams

Alimony & Spousal Support, Banking & Finance, Bankruptcy, Bankruptcy Litigation

Status: In Good Standing

FREE CONSULTATION

CONTACT

977 ADA Place Drive SE, Grand Rapids, MI 49546

Lesley A Hoenig

Landlord-Tenant, Estate, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 16 Years

CONTACT

407 E Broadway Street, Mount Pleasant, MI 48858

Erik Holt

Bankruptcy, Personal Injury, DUI-DWI, Divorce

Status: In Good Standing

CONTACT

203 S. Lafayette St., Greenville, MI 48838

Cheryl Lynne Chadwick

Estate Planning, Estate, Family Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 28 Years

CONTACT

220 W Main St, Ionia, MI 48846

Charlotte F. Shoup

Real Estate, Estate Planning, Elder Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

4750 W Taft Rd, Saint Johns, MI 48879

Wesley P. Hackett

Estate Planning, Employee Rights, Business, Bankruptcy

Status: In Good Standing Licensed: 56 Years

CONTACT

37 Parsonage St, Saranac, MI 48881

Brandon James Richardson

Estate Planning, Employee Rights, Elder Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

3114 Jefferson Ave, Midland, MI 48640

Jessica Louise Sanchez

Consumer Bankruptcy

Status: In Good Standing Licensed: 15 Years

CONTACT

900 S Bridge St, Dewitt, MI 48820

Mary Martha Ries

Corporate, Federal, Commercial Bankruptcy, Intellectual Property

Status: Deceased Licensed: 33 Years

CONTACT

2346 E Mockingbird Ln, Midland, MI 48642

Peter M. Jaklevic

Real Estate, Criminal, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

400 Elm St, Big Rapids, MI 49307

800-923-0641

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LEGAL TERMS

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.

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.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.

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.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

FCRA

See Fair Credit Reporting Act.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

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Elm Hall Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Steven L. Williams

Lesley A Hoenig

Erik Holt

Cheryl Lynne Chadwick

Charlotte F. Shoup

Wesley P. Hackett

Brandon James Richardson

Jessica Louise Sanchez

Mary Martha Ries

Peter M. Jaklevic

TIPS

LEGAL TERMS

SETOFF

WINDING UP

REPOSSESSION

ACCORD AND SATISFACTION

PRESUMED ABUSE

NONPROFIT CORPORATION

NONDISCHARGEABLE DEBTS

FCRA

BANKRUPTCY TRUSTEE

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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