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Gladstone Reorganization Lawyer, Michigan, page 4

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Tricia Terry
About | Articles
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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3. Articles
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Not enough matches for Gladstone Reorganization lawyer.
Below are all Gladstone lawyers.

Daniel R. Degrand

Commercial Real Estate, Industry Specialties, Business, Bankruptcy

Status: In Good Standing Licensed: 51 Years

517 Ludington St, Escanaba, MI 49829

Steven Charles Parks

Criminal

Status: In Good Standing Licensed: 42 Years

310 Ludington St, Escanaba, MI 49829

Steven C. Parks

Criminal

Status: In Good Standing Licensed: 42 Years

310 Ludington St, Escanaba, MI 49829

Robert E. Goebel

Government

Status: In Good Standing Licensed: 51 Years

310 Ludington St, Escanaba, MI 49829

Perry R. Lund

Veterans' Affairs, Estate Planning, Estate, Divorce & Family Law

Status: In Good Standing Licensed: 29 Years

310 Ludington St, Escanaba, MI 49829

John B. Economopoulos

Family Law, Divorce & Family Law, Criminal

Status: In Good Standing Licensed: 26 Years

310 Ludington St, Escanaba, MI 49829

Gabe Cameron

Workers' Compensation

Status: In Good Standing

225 Ludington Street, Escanaba, MI 49829

Trenton Matthew Stupak

Lawsuit & Dispute, Defect and Lemon Law, Immigration, Pension & Benefits, Criminal

Status: In Good Standing

205 Ludington Street, Escanaba, MI 49829

Glenn A. Pearson

General Practice

Status: Inactive Licensed: 47 Years

7243 Lake Bluff 19.4 Rd, Gladstone, MI 49837

Mary K. Vader

General Practice

Status: In Good Standing Licensed: 31 Years

309 S 6th St, Escanaba, MI 49829

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LEGAL TERMS

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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