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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

Shawn J. Coppins

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Divorce & Family Law, Criminal, Accident & Injury, Bankruptcy, Traffic

Mr. Coppins was born and raised in the Metro-Detroit area and is a Litigation Specialist

Shawn Coppins is an aggressive plaintiff's attorney and is one of the firm's founding partners.Mr. Coppins was born and raised in the Metro-Detroit ar... (more)

FREE CONSULTATION

CONTACT

800-928-4120

44 First Street, Mount Clemens, MI 48043

Stacey L. Sanford

Commercial Real Estate, Estate Planning, Employment, Bankruptcy

Status: In Good Standing

CONTACT

Venture Plaza, 3150 Livernois Road, Troy, MI 48083

Paul S. Magy

Commercial Real Estate, Commercial Leasing, Corporate, Bankruptcy

Status: In Good Standing

CONTACT

151 S. Old Woodward Avenue, Birmingham, MI 48009

Jill Mainster Menuck

Wills, Wills & Probate, Banking & Finance, Bankruptcy

Status: In Good Standing

CONTACT

2051 Villa Road, Birmingham, MI 48009

Douglas G. Buk

Real Estate, Government, Estate, Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

50285 Van Dyke Ave, Utica, MI 48317

Marc William Freimuth

Construction, International Other, Corporate, Commercial Bankruptcy

Status: In Good Standing

CONTACT

45700 Keding St, Utica, MI 48317

Conrad Jack Morgenstern

Bankruptcy, Criminal

Status: In Good Standing Licensed: 75 Years

CONTACT

51543 Van Dyke Ave, Utica, MI 48316

Christopher Richard Pettit

Litigation, Employee Rights, Securities, Commercial Bankruptcy

Status: In Good Standing

CONTACT

8300 Hall Rd, Utica, MI 48317

Jack L. Berman

Education, Garnishment, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 52 Years

FREE CONSULTATION

CONTACT

45100 Sterritt Street, Utica, MI 48317

James Michael Neumann

Real Estate, Estate, Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 52 Years

CONTACT

45100 Sterritt St, Utica, MI 48317

800-923-0641

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LEGAL TERMS

CREDIT INSURANCE

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay o... (more...)

Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

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.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

COSIGNER

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for t... (more...)

A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history.

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.

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.

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.

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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Utica Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Shawn J. Coppins

Stacey L. Sanford

Paul S. Magy

Jill Mainster Menuck

Douglas G. Buk

Marc William Freimuth

Conrad Jack Morgenstern

Christopher Richard Pettit

Jack L. Berman

James Michael Neumann

TIPS

LEGAL TERMS

CREDIT INSURANCE

UNDUE HARDSHIP

ACCORD AND SATISFACTION

NONEXEMPT PROPERTY

COSIGNER

S CORPORATION

CHAPTER 7 BANKRUPTCY

SOLE PROPRIETORSHIP

CHAPTER 13 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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