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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

Jonathan R. Moothart

Litigation, Federal Appellate Practice, Contract, Consumer Bankruptcy, Personal Injury

Status: In Good Standing

CONTACT

9815 Miami Beach Rd, Williamsburg, MI 49690

Cheryl N. Sarlund

Divorce, Elder Law, Contract, Bankruptcy

Status: Inactive Licensed: 32 Years

CONTACT

4482 Paper Birch Lane, Traverse City, MI 49686

Gerald F Chefalo

Traffic, Divorce & Family Law, Criminal, Corporate, Bankruptcy

Status: In Good Standing Licensed: 26 Years

CONTACT

502 Railroad Ave, Traverse City, MI 49686

Thomas R. Alward

Consumer Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

202 E State St, Traverse City, MI 49684

Michael Patrick Corcoran

Bankruptcy, Consumer Bankruptcy, Commercial Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Mark A. Burnheimer

Litigation, Corporate, Commercial Bankruptcy, Medical Malpractice

Status: In Good Standing

CONTACT

10631 E Cherry Bend Rd, Traverse City, MI 49684

Michael Corcoran

Bankruptcy, Divorce & Family Law, Credit & Debt, Civil & Human Rights

Status: In Good Standing Licensed: 39 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Ronald A. Schuknecht

Motor Vehicle, Dispute Resolution, Criminal, Consumer Bankruptcy

Status: In Good Standing

CONTACT

10799 Sweet Lilac Ln, Interlochen, MI 49643

Bernard J. Caspar

Criminal, Bankruptcy, Divorce, Social Security -- Disability

Status: Inactive Licensed: 47 Years

CONTACT

1852 S Otsego Ave, Gaylord, MI 49734

William Paul Slough

Litigation, Estate Planning, Consumer Bankruptcy, Bankruptcy

Status: In Good Standing

CONTACT

Gaylord, MI 49734

800-923-0641

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LEGAL TERMS

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.

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.

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

FDCPA

See Fair Debt Collections & Practices Act.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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South Boardman Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Jonathan R. Moothart

Cheryl N. Sarlund

Gerald F Chefalo

Thomas R. Alward

Michael Patrick Corcoran

Mark A. Burnheimer

Michael Corcoran

Ronald A. Schuknecht

Bernard J. Caspar

William Paul Slough

TIPS

LEGAL TERMS

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

NONPROFIT CORPORATION

401(K) PLAN

S CORPORATION

PRIORITY DEBT

CREDIT REPORT

CREDITOR

FDCPA

C CORPORATION

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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