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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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Aric K. Melder

Trusts, Divorce, Contract, Collection

Status: In Good Standing

CONTACT

2304 E 11 Mile Rd, Royal Oak, MI 48067

Sanford J. Melder

Litigation, Trusts, Family Law, Contract, Collection

Status: In Good Standing

CONTACT

2304 E 11 Mile Rd, Royal Oak, MI 48067

Robin Beth Wagner

Labor Law, Discrimination, Non-profit, Collection

Status: In Good Standing Licensed: 10 Years

CONTACT

117 W 4Th St, Royal Oak, MI 48067

Christopher E. Frank

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 21 Years

CONTACT

Royal Oak, MI 48068

Randy Lee Calvin

Car Accident, Consumer Bankruptcy, Social Security -- Disability, Car Accident, Consumer Bankruptcy

Status: In Good Standing

FREE CONSULTATION

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4000 Town Ctr, Southfield, MI 48075

Ian Sean Bolton

Construction, Banking & Finance, Credit & Debt, Defamation & Slander

Status: In Good Standing

CONTACT

24361 Greenfield Rd, Southfield, MI 48075

Ian Sean Bolton

Construction, Banking & Finance, Credit & Debt, Defamation & Slander

Status: In Good Standing

CONTACT

24361 Greenfield Rd, Southfield, MI 48075

Amanda B. Warner

Premises Liability, Insurance, Collection, Medical Malpractice

Status: In Good Standing Licensed: 14 Years

CONTACT

17000 W 10 Mile Rd, Southfield, MI 48075

Andrew Roberts Mikos

Criminal, Credit & Debt, Consumer Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 22 Years

CONTACT

17200 W 10 Mile Rd, Southfield, MI 48075

Robert A. Mucha

Family Law, Contract, Collection, Wrongful Death

Status: In Good Standing

CONTACT

30555 Southfield Road, Southfield, MI 48076

800-923-0641

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LEGAL TERMS

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

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.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

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).

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

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.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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Berkley Bankruptcy & Debt Lawyer, Michigan, page 4

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Aric K. Melder

Sanford J. Melder

Robin Beth Wagner

Christopher E. Frank

Randy Lee Calvin

Ian Sean Bolton

Ian Sean Bolton

Amanda B. Warner

Andrew Roberts Mikos

Robert A. Mucha

TIPS

LEGAL TERMS

SECURED DEBT

LIMITED PARTNERSHIP

SOLE PROPRIETORSHIP

AUTOMATIC STAY

MEANS TEST

LIEN

TRADE NAME

C CORPORATION

WORKOUT

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