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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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Herbert R. Tanner

Lawsuit & Dispute, Divorce & Family Law, Reorganization, Accident & Injury

Status: In Good Standing Licensed: 38 Years

CONTACT

7872 Emery Rd, Portland, MI 48875

Mary Elizabeth Martindell

Patent, Intellectual Property, Estate, Bankruptcy & Debt

Status: In Good Standing Licensed: 17 Years

CONTACT

100 W Main St, Ionia, MI 48846

Thomas Warren Chadwick

Family Law, Divorce & Family Law, Children's Rights, Collection

Status: In Good Standing Licensed: 23 Years

CONTACT

220 W Main St, Ionia, MI 48846

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

Brent David Riley

Landlord-Tenant, Federal Appellate Practice, Contract, Collection

Status: In Good Standing Licensed: 10 Years

CONTACT

13851 S Hinman Rd, Eagle, MI 48822

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

Barbara R. Levine

Criminal, Collection, Animal Bite, Accident & Injury

Status: In Good Standing

CONTACT

9685 Looking Glass Brook Dr, Grand Ledge, MI 48837

Vida Amanda Tessmer-Rothstein

Estate, Criminal, Civil & Human Rights, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 13 Years

CONTACT

107 N Clinton Ave, Saint Johns, MI 48879

Laura J. Lambert

Other, Trusts, Family Law, Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

100 E State St, Saint Johns, MI 48879

Cori E. Barkman

Federal Appellate Practice, Collection, Federal, Family Law, Criminal

Status: In Good Standing Licensed: 21 Years

CONTACT

100 E State St, Saint Johns, MI 48879

800-923-0641

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LEGAL TERMS

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.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

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.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

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.

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.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

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Pewamo Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Herbert R. Tanner

Mary Elizabeth Martindell

Thomas Warren Chadwick

Cheryl Lynne Chadwick

Brent David Riley

Charlotte F. Shoup

Barbara R. Levine

Vida Amanda Tessmer-Rothstein

Laura J. Lambert

Cori E. Barkman

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LEGAL TERMS

LIMITED LIABILITY

BANKRUPTCY

NONPROFIT CORPORATION

UNDUE HARDSHIP

SETOFF

REPOSSESSION

FAIR LABOR STANDARDS ACT (FLSA)

MEANS TEST

INTEREST

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