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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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Alaina M. Zanke-Jodway

Family Law, Civil Rights, Insurance, Credit & Debt

Status: In Good Standing Licensed: 32 Years

CONTACT

Rochester, MI 48308

Manvinder S. Talwar

Federal Appellate Practice, Criminal, Contract, Credit & Debt

Status: In Good Standing Licensed: 24 Years

CONTACT

511 Olde Towne Rd, Rochester, MI 48308

Cheryl D. Cook

Foreclosure, Trusts, Civil Rights, Credit & Debt

Status: In Good Standing Licensed: 28 Years

CONTACT

251 Diversion St, Rochester, MI 48307

Steve Sowell

Landlord-Tenant, Employee Rights, Business, Credit & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

2 Crocker Blvd, Mount Clemens, MI 48043

Elizabeth A. Ferguson

Labor Law, Civil Rights, Contract, Credit & Debt

Status: In Good Standing Licensed: 26 Years

CONTACT

55 Southbound Gratiot Ave, Mount Clemens, MI 48043

Dawn M. Walton

Other, Criminal, Credit & Debt, Accident & Injury

Status: In Good Standing Licensed: 31 Years

CONTACT

8300 Hall Rd, Utica, MI 48317

Ryan Mahlon Moldovan

Other, Credit & Debt, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

189 W Clarkston Rd, Lake Orion, MI 48362

Kenneth D. Bilodeau

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

Status: In Good Standing Licensed: 48 Years

CONTACT

444 W University Dr, Rochester, MI 48307

Barry R. Powers

Employee Rights, Insurance, Credit & Debt, Defamation & Slander, Elder Law

Status: In Good Standing Licensed: 37 Years

CONTACT

38550 Garfield Rd, Clinton Township, MI 48038

Satyam Ramubhai Talati

Litigation, Contract, Business, Credit & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

275 Rex Blvd, Auburn Hills, MI 48326

800-923-0641

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LEGAL TERMS

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

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.

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.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

NONDISCHARGEABLE DEBTS

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chap... (more...)

Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.

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.

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Armada Credit & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Alaina M. Zanke-Jodway

Manvinder S. Talwar

Cheryl D. Cook

Steve Sowell

Elizabeth A. Ferguson

Dawn M. Walton

Ryan Mahlon Moldovan

Kenneth D. Bilodeau

Barry R. Powers

Satyam Ramubhai Talati

TIPS

LEGAL TERMS

DEBT COLLECTOR

LIMITED PARTNERSHIP

NONPROFIT CORPORATION

LIABILITY

PREFERENCE

BANKRUPTCY

REAFFIRMATION

NONDISCHARGEABLE DEBTS

DISCHARGEABLE DEBTS

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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