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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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Christopher G. Bovid

Corporate, Banking & Finance, Bankruptcy Litigation, Bankruptcy

Status: In Good Standing

FREE CONSULTATION

CONTACT

915 North Michigan Avenue, Howell, MI 48843

Troy Green

Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

2290 E. Hill Rd., Grand Blanc, MI 48439

John L. Gormley

Government Contract, Merger & Acquisition, Credit & Debt, Personal Injury

Status: In Good Standing

CONTACT

101 E Grand River Ave, Fowlerville, MI 48836

Matthew J Abraham

Business, Bankruptcy, Personal Injury, Car Accident

Status: In Good Standing

FREE CONSULTATION

CONTACT

16237 Jennings Road, Fenton, MI 48430

Kelly A. Myers

Corporate, Banking & Finance, Bankruptcy Litigation, Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

915 N Michigan Ave, Howell, MI 48843

Rebecca J. Cassell

Employee Rights, Administrative Law, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 20 Years

CONTACT

915 N Michigan Ave, Howell, MI 48843

Allan M. Darish

Bankruptcy & Debt, Real Estate, Estate, Power of Attorney

Status: In Good Standing Licensed: 40 Years

FREE CONSULTATION

CONTACT

110 Trealout Dr., Fenton, MI 48430

David J. Reader

Litigation, Family Law, Criminal, Collection

Status: In Good Standing Licensed: 48 Years

CONTACT

204 S Highlander Way, Howell, MI 48843

Tara A. Black

Contract, Collection, Elder Law, Divorce

Status: In Good Standing Licensed: 18 Years

CONTACT

704 E Grand River Ave, Howell, MI 48843

David T. Bittner

Divorce, Contract, Collection, Personal Injury

Status: In Good Standing Licensed: 33 Years

CONTACT

710 E Grand River Ave, Howell, MI 48843

800-923-0641

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LEGAL TERMS

DEBT COLLECTOR

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe... (more...)

A person who works in the in-house collections department of an original creditor or a collection agency to track down debtors and get them to pay what they owe. Debt collectors can be relentless, often using scare tactics, humiliation and repeated phone calls to extract payments or promises to pay.

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.

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.

COLLATERAL

Property that guarantees payment of a secured debt.

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.

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.

DEBIT CARD

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can ... (more...)

A card issued by a bank that combines the functions of an ATM card and checks. A debit card can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check. Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction. Debit cards are regulated by the Electronic Funds Transfer Act.

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.

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.

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Byron Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Christopher G. Bovid

Troy Green

John L. Gormley

Matthew J Abraham

Kelly A. Myers

Rebecca J. Cassell

Allan M. Darish

David J. Reader

Tara A. Black

David T. Bittner

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LEGAL TERMS

DEBT COLLECTOR

LIABILITY

UNDUE HARDSHIP

COLLATERAL

REAFFIRMATION

S CORPORATION

DEBIT CARD

REPOSSESSION

ADMINISTRATIVE EXPENSES

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