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

David T. McAndrew

Wills & Probate, Trusts, Estate Planning, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

651 Richard Drive, Harrison, MI 48625

David T. Mcandrew

Estate Planning, Divorce, Elder Law, Bankruptcy

Status: In Good Standing

CONTACT

651 Richard Dr, Harrison, MI 48625

Jonathan R. Moothart

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

Status: In Good Standing

CONTACT

9815 Miami Beach Rd, Williamsburg, MI 49690

Cheryl N. Sarlund

Divorce, Elder Law, Contract, Bankruptcy

Status: Inactive Licensed: 32 Years

CONTACT

4482 Paper Birch Lane, Traverse City, MI 49686

Gerald F Chefalo

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

Status: In Good Standing Licensed: 26 Years

CONTACT

502 Railroad Ave, Traverse City, MI 49686

Thomas R. Alward

Consumer Bankruptcy

Status: In Good Standing Licensed: 44 Years

CONTACT

202 E State St, Traverse City, MI 49684

Michael Patrick Corcoran

Bankruptcy, Consumer Bankruptcy, Commercial Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Michael Corcoran

Bankruptcy, Divorce & Family Law, Credit & Debt, Civil & Human Rights

Status: In Good Standing Licensed: 39 Years

CONTACT

617 W Front St, Traverse City, MI 49684

Mark A. Burnheimer

Litigation, Corporate, Commercial Bankruptcy, Medical Malpractice

Status: In Good Standing

CONTACT

10631 E Cherry Bend Rd, Traverse City, MI 49684

800-923-0641

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LEGAL TERMS

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working fo... (more...)

A federal law that outlaws unfair debt collection practices, including lying, harassing, misleading and otherwise abusing debtors, by debt collectors working for collection agencies. The law does not apply to creditors collecting their own debts. This law has greatly improved conditions for debtors, although more than a few debt collectors ignore the law. If a collection agency violates the law, debtors can contact the Federal Trade Commission for help.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

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.

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.

CYBERSQUATTING

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. T... (more...)

Buying a domain name that reflects the name of a business or famous person with the intent of selling the name back to the business or celebrity for a profit. The Anticybersquatting Consumer Protection Act of 1999 authorizes a cybersquatting victim to file a federal lawsuit to regain a domain name or sue for financial compensation. Under the act, registering, selling or using a domain name with the intent to profit from someone else's good name is considered cybersquatting. Victims of cybersquatting can also use the provisions of the Uniform Domain Name Dispute Resolution Policy adopted by ICANN, an international tribunal administering domain names. This international policy results in arbitration of the dispute, not litigation.

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Lake City Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

David T. McAndrew

David T. Mcandrew

Jonathan R. Moothart

Cheryl N. Sarlund

Gerald F Chefalo

Thomas R. Alward

Michael Patrick Corcoran

Michael Corcoran

Mark A. Burnheimer

TIPS

LEGAL TERMS

SUBROGATION

BANKRUPTCY

COLLECTION AGENCY

FAIR DEBT COLLECTIONS & PRACTICES ACT (FDCPA)

REDEMPTION

LIMITED PARTNERSHIP

SECURED DEBT

REAFFIRMATION

CYBERSQUATTING

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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