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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

Wallace Kent Clarke

Bankruptcy

Status: Inactive Licensed: 49 Years

CONTACT

675 E Maple Rd, Troy, MI 48083

John Paul Hamameh

Other, Real Estate, Estate, Consumer Bankruptcy

Status: In Good Standing Licensed: 13 Years

CONTACT

35057 Lana Ln, Sterling Heights, MI 48312

Jeremy Figg Fisher

Estate Planning, Estate, Criminal, Bankruptcy

Status: In Good Standing Licensed: 18 Years

CONTACT

1 S Main St, Mount Clemens, MI 48043

Carrie D. Taylor

Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 21 Years

CONTACT

Warren, MI 48090

Christopher Eugene Frank

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

Royal Oak, MI 48068

Christopher E. Frank

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 22 Years

CONTACT

Royal Oak, MI 48068

Robert P. Dewitt

Landlord-Tenant, Trusts, Divorce, Bankruptcy

Status: In Good Standing Licensed: 41 Years

CONTACT

3250 W Big Beaver Rd, Troy, MI 48084

Richard G. Roosen

Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 42 Years

CONTACT

Mount Clemens, MI 48046

Michael J. Smith

Litigation, Lawsuit & Dispute, Criminal, Bankruptcy

Status: In Good Standing Licensed: 40 Years

CONTACT

70 Macomb Pl, Mount Clemens, MI 48043

David L. Mazur

Estate Planning, Elder Law, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 37 Years

CONTACT

1 S Main St, Mount Clemens, MI 48043

800-923-0641

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LEGAL TERMS

FCRA

See Fair Credit Reporting Act.

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.

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.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

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.

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

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.

BANKRUPTCY TRUSTEE

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is t... (more...)

A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.

REPOSSESSION

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and ... (more...)

A creditor's taking property that has been pledged as collateral for a loan. Lenders will most often repossess cars when the owner has missed loan payments and has not attempted to work with the lender to resolve the problem. A repossessor can't use force to get at your car, but he can legally hot-wire it and even drive it out of your unlocked garage.

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Sterling Heights Bankruptcy Lawyer, Michigan, page 5

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Wallace Kent Clarke

John Paul Hamameh

Jeremy Figg Fisher

Carrie D. Taylor

Christopher Eugene Frank

Christopher E. Frank

Robert P. Dewitt

Richard G. Roosen

Michael J. Smith

David L. Mazur

TIPS

LEGAL TERMS

FCRA

SUBROGATION

CREDIT INSURANCE

C CORPORATION

LIABILITY

LIQUIDATING PARTNER

PREFERENCE

BANKRUPTCY TRUSTEE

REPOSSESSION

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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