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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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John Anthony Schipper

Employment, Labor Law, Administrative Law, Credit & Debt, Workers' Compensation

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200 E Big Beaver Rd, Troy, MI 48083

Robert W. Warner

Children's Rights, Contract, Credit & Debt, Collection

Status: Licensed: 32 Years

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Troy, MI 48099

Anthony James Kochis

Contract, Banking & Finance, Credit & Debt, Bankruptcy

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3150 Livernois Rd, Troy, MI 48083

Norman D. Orr

Real Estate, Aviation, Contract, Credit & Debt

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201 W Big Beaver Rd, Troy, MI 48084

Kenneth D. Bilodeau

Landlord-Tenant, Estate Planning, Family Law, Credit & Debt

Status: Licensed: 49 Years

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444 W University Dr, Rochester, MI 48307

Kenneth L. Urwiller

Commercial Real Estate, Litigation, Administrative Law, Credit & Debt

Status: Licensed: 41 Years

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363 W Big Beaver Rd, Troy, MI 48084

Daniel J. Feko

Electronic Commerce, Credit & Debt, Bankruptcy, Health Care Other

Status: Licensed: 27 Years

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363 W Big Beaver Rd, Troy, MI 48084

Thomas L. Beadle

Landlord-Tenant, Federal Appellate Practice, Family Law, Credit & Debt

Status: Licensed: 39 Years

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445 S Livernois Rd, Rochester, MI 48307

Alaina M. Zanke-Jodway

Family Law, Civil Rights, Insurance, Credit & Debt

Status: Licensed: 33 Years

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Rochester, MI 48308

Christopher Eugene Frank

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 23 Years

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Royal Oak, MI 48068

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LEGAL TERMS

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.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

COLLATERAL

Property that guarantees payment of a secured debt.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

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Algonac Credit & Debt Lawyer, Michigan, page 3

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

John Anthony Schipper

Robert W. Warner

Anthony James Kochis

Norman D. Orr

Kenneth D. Bilodeau

Kenneth L. Urwiller

Daniel J. Feko

Thomas L. Beadle

Alaina M. Zanke-Jodway

Christopher Eugene Frank

TIPS

LEGAL TERMS

NONPROFIT CORPORATION

REDEMPTION

FRAUDULENT TRANSFER

DISCHARGEABLE DEBTS

COLLATERAL

HOUSEHOLDER

NONEXEMPT PROPERTY

FRATERNAL BENEFIT SOCIETY BENEFITS

BULK SALES LAW

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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