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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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Melissa D. Francis

Bankruptcy & Debt, Condominiums, Residential Real Estate, Real Estate

Status: In Good Standing

FREE CONSULTATION

CONTACT

6553 Jackson Road, Ann Arbor, MI 48103

Christopher G. Bovid

Corporate, Banking & Finance, Bankruptcy Litigation, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

915 North Michigan Avenue, Howell, MI 48843

Darryl R. Mazur

Consumer Bankruptcy, Criminal

Status: In Good Standing Licensed: 51 Years

CONTACT

4203 Aspen Way, Jackson, MI 49201

Anne Walker White

Biotechnology, Labor Law, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

1 Comtronics Pl, Jackson, MI 49203

Thomas Patrick Riley

Other, Industry Specialties, Consumer Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

500 W Michigan Ave, Jackson, MI 49201

Kimberly C. Wilson

Real Estate, Reinsurance, Business, Consumer Bankruptcy

Status: In Good Standing

CONTACT

759 Beverly Park Pl, Jackson, MI 49203

Michael Kevin Falahee

Divorce, Contract, Collection, Personal Injury

Status: In Good Standing Licensed: 19 Years

CONTACT

1000 Laurence Ave, Jackson, MI 49202

Lineas L Baze

Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

335 W Cortland Ave, Jackson, MI 49201

Peter W. Cravens

Criminal, Collection

Status: In Good Standing Licensed: 33 Years

CONTACT

110 Lake Shore Dr, Brooklyn, MI 49230

Patricia B. Fancy

Intellectual Property, Consumer Bankruptcy

Status: Inactive Licensed: 46 Years

CONTACT

200 Silver Maples Dr, Chelsea, MI 48118

800-923-0641

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LEGAL TERMS

DISCHARGEABLE DEBTS

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bill... (more...)

Debts that can be erased by going through bankruptcy. Most debts incurred prior to declaring bankruptcy are dischargeable, including back rent, credit card bills and medical bills. Compare nondischargeable debts.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CCCS

See Consumer Credit Counseling Service.

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.

TRADE NAME

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

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.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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Grass Lake Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Melissa D. Francis

Christopher G. Bovid

Darryl R. Mazur

Anne Walker White

Thomas Patrick Riley

Kimberly C. Wilson

Michael Kevin Falahee

Lineas L Baze

Peter W. Cravens

Patricia B. Fancy

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LEGAL TERMS

DISCHARGEABLE DEBTS

INTEREST

CCCS

BULK SALES LAW

TRADE NAME

REAFFIRMATION

FRAUDULENT TRANSFER

LIABILITY

WORKOUT

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