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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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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Stephen John Smith

Litigation, Insurance, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 34 Years

CONTACT

3003 S State St, Ann Arbor, MI 48109

Mark Michael Hamilton

Patent, Intellectual Property, Bankruptcy, Medical Malpractice

Status: In Good Standing Licensed: 16 Years

CONTACT

600 S Wagner Rd, Ann Arbor, MI 48103

Rodney Aulborn Fleming

Workers' Compensation, Corporate, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 34 Years

CONTACT

4103 Lake Forest Dr W, Ann Arbor, MI 48108

Kevin Richard Flynn

Real Estate, Corporate, Banking & Finance, Commercial Bankruptcy

Status: In Good Standing

CONTACT

1435 Cambridge Rd, Ann Arbor, MI 48104

Michael Neil Barnett

Real Estate, Electronic Commerce, Insurance, Commercial Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

542 N Main St, Ann Arbor, MI 48104

Deborah Pitluk Ecker

Employee Rights, Corporate, Business, Bankruptcy

Status: In Good Standing Licensed: 72 Years

CONTACT

625 S. State Street, Ann Arbor, MI 48109

Harry Delmar Huff

Electronic Commerce, Government, Corporate, Commercial Bankruptcy

Status: In Good Standing Licensed: 21 Years

CONTACT

921 Miner St, Ann Arbor, MI 48103

Michael John O'Neill

Real Estate, Estate, Criminal, Commercial Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

625 S State St, Ann Arbor, MI 48109

William Oak Cass

Litigation, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 42 Years

CONTACT

2232 S Main St, Ann Arbor, MI 48103

Andrew Banas

State Government, Criminal, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 19 Years

CONTACT

220 E Huron St, Ann Arbor, MI 48104

800-923-0641

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LEGAL TERMS

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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.

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.

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.

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

CREDIT COUNSELING

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Unde... (more...)

Counseling that explores the possibility of repaying debts outside of bankruptcy and educates the debtor about credit, budgeting, and financial management. Under the new bankruptcy law, a debtor must undergo credit counseling with an approved provider before filing for bankruptcy.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

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Clinton Bankruptcy Lawyer, Michigan, page 3

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Stephen John Smith

Mark Michael Hamilton

Rodney Aulborn Fleming

Kevin Richard Flynn

Michael Neil Barnett

Deborah Pitluk Ecker

Harry Delmar Huff

Michael John O'Neill

William Oak Cass

Andrew Banas

TIPS

LEGAL TERMS

CHAPTER 13 BANKRUPTCY

401(K) PLAN

BULK SALES LAW

NONPROFIT CORPORATION

CHAPTER 7 BANKRUPTCY

CREDIT COUNSELING

GUARANTOR

TRADE DRESS

GENERAL PARTNER

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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