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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

Thomas B. Baynton

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Criminal, Bankruptcy, Divorce & Family Law, Traffic, DUI-DWI

I fight for you! Let My 29 Years of Experience Work For You!

At the Law Office of Thomas Baynton PLLC, Thomas Baynton is an experienced attorney serving the people of West Michigan. If you have been charged with... (more)

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800-920-2701

PO Box 230096, Grand Rapids, MI 49503

Michael D. Almassian

Insurance, Corporate, Credit & Debt, Bankruptcy

Status: In Good Standing

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CONTACT

230 East Fulton Street, Grand Rapids, MI 49503

James M. Keller

Corporate, Consumer Bankruptcy, Commercial Bankruptcy, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

230 East Fulton Street, Grand Rapids, MI 49503

A. Todd Almassian

Litigation, Employment, Corporate, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

230 East Fulton Street, Grand Rapids, MI 49503

Greg J. Ekdahl

Litigation, Business Organization, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

FREE CONSULTATION

CONTACT

230 East Fulton Street, Grand Rapids, MI 49503

Jon Dallas Stratman

Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

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866 3 Mile Road, N.W., Grand Rapids, MI 49544

Catherine Jones-Rikkers

Estate Planning, Labor Law, Employment, Consumer Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

1 College Landing, Allendale, MI 49401

Barry C. Lemmen

Social Security, Government, Family Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

274 Main St, Coopersville, MI 49404

Beth Ann Riffe

Agriculture, Labor Law, Administrative Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

886 East Street, Coopersville, MI 49404

James W. Kraayeveld

Litigation, Family Law, Divorce, Child Custody, Dissolution

CONTACT

300 State St SE, Grand Rapids, MI 49503

800-923-0641

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LEGAL TERMS

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.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

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.

HOUSEHOLDER

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a ho... (more...)

A person who supports and maintains a household, with or without other people. In bankruptcy law, a householder, housekeeper or head of household can claim a homestead exemption and possibly other exemptions relating to the maintenance of the household.

FAIR CREDIT REPORTING ACT (FCRA)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to a... (more...)

A federal law that is designed to prevent inaccurate or obsolete information from entering or remaining in a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining and disseminating information and bars credit bureaus from reporting negative information that is older than seven years, except a bankruptcy, which may be reported for ten. If you notify a credit bureau of an error in your credit report, the FCRA requires the bureau to investigate your allegations within 30 days, review all information you provide, remove inaccurate and unverified information and adopt procedures to keep the information from reappearing. In addition, the law requires that creditors refrain from reporting incorrect information to credit bureaus.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

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Marne Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Thomas B. Baynton

Michael D. Almassian

James M. Keller

A. Todd Almassian

Greg J. Ekdahl

Jon Dallas Stratman

Catherine Jones-Rikkers

Barry C. Lemmen

Beth Ann Riffe

James W. Kraayeveld

TIPS

LEGAL TERMS

S CORPORATION

CREDITOR

FORBEARANCE

SETOFF

FRATERNAL BENEFIT SOCIETY BENEFITS

ACCORD AND SATISFACTION

HOUSEHOLDER

FAIR CREDIT REPORTING ACT (FCRA)

DEFINED CONTRIBUTION PLAN

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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