Kincheloe Credit & Debt Lawyer, Michigan, page 4

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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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Nicholas J. Lambros

Real Estate, Motor Vehicle, Divorce & Family Law, DUI-DWI

Status: In Good Standing Licensed: 59 Years

CONTACT

544 Ashmun St, Sault Sainte Marie, MI 49783

Alexis M. Lambros

General Practice

Status: In Good Standing Licensed: 22 Years

CONTACT

544 Ashmun St, Sault Sainte Marie, MI 49783

Charles J. Palmer

Bankruptcy

Status: In Good Standing Licensed: 38 Years

CONTACT

545 Ashmun St, Sault Sainte Marie, MI 49783

Douglas A. Parviainen

General Practice

Status: In Good Standing Licensed: 34 Years

CONTACT

300 W Pier Dr, Sault Sainte Marie, MI 49783

Michael Bryce Winnick

Real Estate, Family Law, Criminal, Contract

Status: In Good Standing Licensed: 34 Years

CONTACT

409 Ashmun St, Sault Sainte Marie, MI 49783

William D. Justin

Litigation, Pharmaceutical Product, Native People, Legal Malpractice

Status: In Good Standing Licensed: 45 Years

CONTACT

402 Ashmun Street, Sault Sainte Marie, MI 49783

Robert L. Stratton

General Practice

Status: In Good Standing Licensed: 20 Years

CONTACT

325 Court St, Sault Sainte Marie, MI 49783

James P. Lambros

Government

Status: In Good Standing Licensed: 24 Years

CONTACT

319 Court St, Sault Sainte Marie, MI 49783

Thomas J. Veum

Social Security, Workers' Compensation

Status: In Good Standing Licensed: 59 Years

CONTACT

216 Ashmun St, Sault Sainte Marie, MI 49783

Elizabeth A Eggert

Real Estate, Trusts

Status: In Good Standing Licensed: 26 Years

CONTACT

111 Ashmun St, Sault Sainte Marie, MI 49783

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LEGAL TERMS

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.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

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.

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

LOSS DAMAGE WAIVER (LDW)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it ofte... (more...)

Rental car insurance that makes the rental car company responsible for damage to or theft of a rental car. This insurance is a major consumer ripoff, as it often duplicates coverage provided by the renter's regular car insurance and/or the credit card she uses to rent the car. Nevertheless, hard-sell practices by rental car agents often dupe people into buying LDWs they don't really need. LDW is also called 'collision damage waiver.'

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.

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

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Kincheloe Credit & Debt Lawyer, Michigan, page 4

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Nicholas J. Lambros

Alexis M. Lambros

Charles J. Palmer

Douglas A. Parviainen

Michael Bryce Winnick

William D. Justin

Robert L. Stratton

James P. Lambros

Thomas J. Veum

Elizabeth A Eggert

TIPS

LEGAL TERMS

PREFERENCE

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

NONPROFIT CORPORATION

LIMITED LIABILITY

LOSS DAMAGE WAIVER (LDW)

S CORPORATION

CREDIT BUREAU

FAIR LABOR STANDARDS ACT (FLSA)

CHAPTER 7 BANKRUPTCY

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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