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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

Carroll Gibbs Clough

Banking & Finance, Bankruptcy

Status: In Good Standing Licensed: 19 Years

CONTACT

3281 Racquet Club Dr, Traverse City, MI 49684

Cheryl N. Sarlund

Divorce, Elder Law, Contract, Bankruptcy

Status: Inactive Licensed: 32 Years

CONTACT

4482 Paper Birch Lane, Traverse City, MI 49686

Daniel J. Dingeman

Estate Planning, Bankruptcy, Construction, Criminal, Business

Status: In Good Standing

CONTACT

100 Park Street, Traverse City, MI 49684

Daniel O. Myers

Class Action, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

818 Red Drive, Traverse City, MI 49684

David S. Mccurdy

Real Estate, Estate Planning, Business, Bankruptcy

Status: In Good Standing Licensed: 50 Years

CONTACT

120 W Harris St, Cadillac, MI 49601

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

Gerald B. Zelenock

Labor Law, Employment, Bankruptcy

Status: In Good Standing Licensed: 26 Years

CONTACT

309 E Front St, Traverse City, MI 49684

Jeffrey C. Alandt

Foreclosure, Timeshare, Motor Vehicle, Criminal, Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

121 E Front St, Traverse City, MI 49684

Jeremy Brandon Shephard

Bankruptcy, Employment Discrimination, Personal Injury, Criminal

Status: In Good Standing

CONTACT

150 S Stewart Ave, Big Rapids, MI 49307

Jesse L. Williams

Real Estate, Family Law, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 18 Years

CONTACT

2899 Benzie Highway, Benzonia, MI 49616

800-923-0641

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LEGAL TERMS

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

TRADE NAME

The official name of a business, the one it uses on its letterhead and bank account when not dealing with consumers.

BULK SALES LAW

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to ... (more...)

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets -- that is, get rid of an unusually large amount of inventory, merchandise or equipment -- the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code -- and laws modeled on the UCC have been generally adopted throughout the country.

COLLATERAL

Property that guarantees payment of a secured debt.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

TRADE DRESS

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape... (more...)

The distinctive packaging or design of a product that promotes the product and distinguishes it from other products in the marketplace -- for example, the shape of Frangelico liqueur bottles. Trade dress can be protected under trademark law if a showing can be made that the average consumer would likely be confused as to product origin if another product were allowed to appear in similar dress.

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Wellston Bankruptcy Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Carroll Gibbs Clough

Cheryl N. Sarlund

Daniel J. Dingeman

Daniel O. Myers

David S. Mccurdy

Gerald F Chefalo

Gerald B. Zelenock

Jeffrey C. Alandt

Jeremy Brandon Shephard

Jesse L. Williams

TIPS

LEGAL TERMS

BANKRUPTCY

WINDING UP

TRADE NAME

BULK SALES LAW

COLLATERAL

PREFERENCE

401(K) PLAN

SUBROGATION

TRADE DRESS

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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