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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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Jonathan R. Moothart

Litigation, Federal Appellate Practice, Contract, Consumer Bankruptcy, Personal Injury

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9815 Miami Beach Rd, Williamsburg, MI 49690

Roy Jay Montney

Construction, Trusts, Contract, Collection

Status: Licensed: 33 Years

CONTACT

1022 E Front St, Traverse City, MI 49686

Gerald F Chefalo

Traffic, Divorce & Family Law, Criminal, Corporate, Bankruptcy

Status: Licensed: 27 Years

CONTACT

502 Railroad Ave, Traverse City, MI 49686

Julie A. Gillum

Contract, Collection, Divorce, Construction

Status: Licensed: 32 Years

CONTACT

326 E State St, Traverse City, MI 49684

David A. Bieganowski

Business, Collection, Real Estate, Estate

Status: Licensed: 28 Years

CONTACT

400 E Eighth St, Traverse City, MI 49685

Thomas R. Alward

Consumer Bankruptcy

Status: Licensed: 44 Years

CONTACT

202 E State St, Traverse City, MI 49684

Cheryl N. Sarlund

Divorce, Elder Law, Contract, Bankruptcy

Status: Licensed: 32 Years

CONTACT

4482 Paper Birch Lane, Traverse City, MI 49686

Robert A. Cooney

Criminal, Limited Liability Companies, Business, Collection

Status: Licensed: 32 Years

CONTACT

280 Washington St, Traverse City, MI 49684

Grant W Parsons

Traffic, Transportation & Shipping, Civil Rights, Credit & Debt

Status: Licensed: 39 Years

CONTACT

520 S Union St, Traverse City, MI 49684

Michael Patrick Corcoran

Bankruptcy, Consumer Bankruptcy, Commercial Bankruptcy

Status: Licensed: 40 Years

CONTACT

617 W Front St, Traverse City, MI 49684

800-923-0641

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LEGAL TERMS

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.

FCRA

See Fair Credit Reporting Act.

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.

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.

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.

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Elk Rapids Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Jonathan R. Moothart

Roy Jay Montney

Gerald F Chefalo

Julie A. Gillum

David A. Bieganowski

Thomas R. Alward

Cheryl N. Sarlund

Robert A. Cooney

Grant W Parsons

Michael Patrick Corcoran

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LEGAL TERMS

PRESUMED ABUSE

SOLE PROPRIETORSHIP

ACCORD AND SATISFACTION

LIEN

TRADE NAME

FCRA

REAFFIRMATION

GENERAL PARTNER

TOXIC TORT

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