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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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Karen L. Lemke

Traffic, Medical Products & Devices, Family Law, Credit & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

Fraser, MI 48026

Herman G. Petzold

Gift Taxation, Reinsurance, Corporate, Credit & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

19641 Mack Ave, Grosse Pointe, MI 48236

Joseph Grima

Bankruptcy & Debt, Bankruptcy, Collection, Credit & Debt

FREE CONSULTATION

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18232 Mack Ave, Grosse Pointe, MI 48236

Laura H. Mcmahon Lynch

Contract, Credit & Debt, Election & Political, Trusts

Status: In Good Standing Licensed: 41 Years

CONTACT

252 Lewiston Rd, Grosse Pointe, MI 48236

Michael A. Conway

Accident & Injury, Divorce & Family Law, Credit & Debt, Defamation & Slander, Employee Rights

Status: In Good Standing Licensed: 55 Years

CONTACT

65 Merriweather Rd, Grosse Pointe, MI 48236

Elaine W. Mardirosian

Landlord-Tenant, Real Estate, Family Medical Leave Act (FMLA), Credit & Debt

Status: In Good Standing Licensed: 43 Years

CONTACT

1373 Balfour St, Grosse Pointe, MI 48230

Dawn M. Walton

Other, Criminal, Credit & Debt, Accident & Injury

Status: In Good Standing Licensed: 31 Years

CONTACT

8300 Hall Rd, Utica, MI 48317

Michelle A. King

Litigation, Credit & Debt, Collection, Bankruptcy

Status: In Good Standing Licensed: 16 Years

CONTACT

26304 Grobbel Ave, Warren, MI 48091

Elizabeth Marie Smith

Real Estate, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

CONTACT

28405 Van Dyke Ave, Warren, MI 48093

Susanna Celeste Brennan

Civil Rights, Credit & Debt, Bankruptcy

Status: Inactive Licensed: 22 Years

CONTACT

1441 E Maple Rd, Troy, MI 48083

800-923-0641

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LEGAL TERMS

FDCPA

See Fair Debt Collections & Practices Act.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

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.

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

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.

CHAPTER 13 PLAN

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to ... (more...)

A document filed in a Chapter 13 bankruptcy in which the debtor shows how all of his or her disposable income will be used over a three- to five-year period to pay all mandatory debts -- for example, back child support, taxes, and mortgage arrearages -- as well as some or all unsecured, nonpriority debts, such as medical and credit card bills.

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Harsens Island Credit & Debt Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Karen L. Lemke

Herman G. Petzold

Joseph Grima

Laura H. Mcmahon Lynch

Michael A. Conway

Elaine W. Mardirosian

Dawn M. Walton

Michelle A. King

Elizabeth Marie Smith

Susanna Celeste Brennan

TIPS

LEGAL TERMS

FDCPA

COLLATERAL

NONDISCHARGEABLE DEBTS

CREDIT REPORT

CHAPTER 7 BANKRUPTCY

PRIORITY DEBT

S CORPORATION

GENERAL PARTNER

CHAPTER 13 PLAN

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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