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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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Ari M. Charlip

Real Estate, Litigation, Franchising, Banking & Finance, Bankruptcy & Debt

Status: In Good Standing

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1760 South Telegraph Road, Bloomfield Hills, MI 48302

Raymond J. Sterling

Class Action, Whistleblower, Civil Rights, Collection

Status: In Good Standing

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33 Bloomfield Hills Parkway, Bloomfield Hills, MI 48304

Patrick N. Butler

Bankruptcy

Status: In Good Standing

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40900 Woodward Avenue, Bloomfield Hills, MI 48304

Barbara K. Tronstein

Consumer Rights, Consumer Bankruptcy, Labor Law, Real Estate

Status: In Good Standing Licensed: 45 Years

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4445 N Atlantic Blvd, Auburn Hills, MI 48326

D. Chadd McKitrick

Insurance, Collection, Medical Malpractice, Employee Rights

Status: In Good Standing Licensed: 24 Years

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2478 Lake Angelus Lane, Auburn Hills, MI 48326

Jacob D Lyons

Employment, Contract, Business, Bankruptcy

Status: In Good Standing Licensed: 16 Years

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1320 Pacific Drive, Auburn Hills, MI 48326

Michael P. Hogan

Real Estate, Commercial Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 23 Years

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903 N Opdyke Rd, Auburn Hills, MI 48326

Richardo I. Kilpatrick

Children's Rights, Business, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

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903 N Opdyke Rd, Auburn Hills, MI 48326

Mark Bassily

Real Estate, Litigation, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 12 Years

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1700 Opdyke Ct, Auburn Hills, MI 48326

Mark K. Riashi

Lawsuit & Dispute, Intellectual Property, Contract, Bankruptcy

Status: In Good Standing Licensed: 37 Years

CONTACT

2500 Innovation Dr, Auburn Hills, MI 48326

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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.

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.

TRADE NAME

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

ADMINISTRATIVE EXPENSES

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Admi... (more...)

The trustee's fee, the debtor's attorney fees, and other costs of bringing a bankruptcy case that a debtor must pay in full in a Chapter 13 repayment plan. Administrative costs are typically 10% of the debtor's total payments under the plan.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

LIMITED PARTNERSHIP

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner ... (more...)

A business structure that allows one or more partners (called limited partners) to enjoy limited personal liability for partnership debts while another partner or partners (called general partners) have unlimited personal liability. The key difference between a general and limited partner concerns management decision making--general partners run the business, and limited partners, who are usually passive investors, are not allowed to make day-to-day business decisions. If they do, they risk being treated as general partners with unlimited personal liability.

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Auburn Hills Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Ari M. Charlip

Raymond J. Sterling

Patrick N. Butler

Barbara K. Tronstein

D. Chadd McKitrick

Jacob D Lyons

Michael P. Hogan

Richardo I. Kilpatrick

Mark Bassily

Mark K. Riashi

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LEGAL TERMS

BANKRUPTCY

CHAPTER 13 PLAN

TRADE NAME

ADMINISTRATIVE EXPENSES

SUBROGATION

COLLATERAL

C CORPORATION

REDEMPTION

LIMITED PARTNERSHIP

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