Ann Arbor Bankruptcy Lawyer, Michigan, page 3

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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

Doron Yitzchaki

Litigation, Lawsuit & Dispute, Business, Bankruptcy

Status: In Good Standing

CONTACT

350 S Main St, Ann Arbor, MI 48104

Bruce N. Elliott

Commercial Real Estate, Real Estate, Business, Bankruptcy

Status: In Good Standing Licensed: 49 Years

CONTACT

2121 Wallingford Rd, Ann Arbor, MI 48104

Michael C. Hammer

Litigation, Business, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

350 S Main St, Ann Arbor, MI 48104

Letitia A. Lee

Housing & Construction Defects, Pension & Benefits, Civil & Human Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

420 North Fourth Avenue, Ann Arbor, MI 48104

Dehai Tao

International Other, Immigration, Commercial Bankruptcy

Status: In Good Standing Licensed: 32 Years

CONTACT

24 Frank Lloyd Wright Dr, Ann Arbor, MI 48105

Kelli C.C. Meeks

Real Estate, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

455 E Eisenhower Pkwy, Ann Arbor, MI 48108

Andrew L. Fanta

Family Law, Divorce, Criminal, Bankruptcy

Status: In Good Standing Licensed: 46 Years

CONTACT

4930 Washtenaw Ave, Ann Arbor, MI 48108

Rebekah Page-Gourley

Litigation, Intellectual Property, Federal Appellate Practice, Consumer Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

1020 Greene St, Ann Arbor, MI 48109

Douglas E. Lewis

Landlord-Tenant, Employee Rights, Criminal, Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

715 N University Ave, Ann Arbor, MI 48104

Orlando K. Simon

Consumer Bankruptcy, Criminal

Status: In Good Standing Licensed: 24 Years

CONTACT

715 N University Ave, Ann Arbor, MI 48104

800-923-0641

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LEGAL TERMS

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

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.

TOXIC TORT

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and su... (more...)

A personal injury caused by exposure to a toxic substance, such as asbestos or hazardous waste. Victims can sue for medical expenses, lost wages and pain and suffering.

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.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

CREDITOR

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

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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Ann Arbor Bankruptcy Lawyer, Michigan, page 3

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Doron Yitzchaki

Bruce N. Elliott

Michael C. Hammer

Letitia A. Lee

Dehai Tao

Kelli C.C. Meeks

Andrew L. Fanta

Rebekah Page-Gourley

Douglas E. Lewis

Orlando K. Simon

TIPS

LEGAL TERMS

NO-FAULT INSURANCE

REDEMPTION

TOXIC TORT

UNDUE HARDSHIP

LIEN

CREDITOR

SOLE PROPRIETORSHIP

UNSECURED DEBT

COSIGNER

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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