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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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Sheryl A. Shoebottom

Bankruptcy, Collection, Credit & Debt, Tax

Status: In Good Standing

FREE CONSULTATION

CONTACT

30161 Southfield Road, Southfield, MI 48076

Steve Sowell

Landlord-Tenant, Employee Rights, Business, Credit & Debt

Status: In Good Standing Licensed: 39 Years

CONTACT

2 Crocker Blvd, Mount Clemens, MI 48043

Elizabeth A. Ferguson

Labor Law, Civil Rights, Contract, Credit & Debt

Status: In Good Standing Licensed: 27 Years

CONTACT

55 Southbound Gratiot Ave, Mount Clemens, MI 48043

Larry R. Kipke

Landlord-Tenant, Divorce, Civil Rights, Credit & Debt

Status: In Good Standing Licensed: 38 Years

CONTACT

55 Southbound Gratiot Ave, Mount Clemens, MI 48043

Barry R. Powers

Employee Rights, Insurance, Credit & Debt, Defamation & Slander, Elder Law

Status: In Good Standing Licensed: 37 Years

CONTACT

38550 Garfield Rd, Clinton Township, MI 48038

Karen L. Lemke

Traffic, Medical Products & Devices, Family Law, Credit & Debt

Status: In Good Standing Licensed: 41 Years

CONTACT

Fraser, MI 48026

Sean R. O'Mara

Class Action, Criminal, Credit & Debt, Consumer Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

24001 Greater Mack Ave, Saint Clair Shores, MI 48080

Steven S. Vernier

Estate Planning, Family Law, Insurance, Credit & Debt

Status: In Good Standing Licensed: 46 Years

CONTACT

22815 Kelly Rd, Eastpointe, MI 48021

Dawn M. Walton

Other, Criminal, Credit & Debt, Accident & Injury

Status: In Good Standing Licensed: 31 Years

CONTACT

8300 Hall Rd, Utica, MI 48317

Herman G. Petzold

Gift Taxation, Reinsurance, Corporate, Credit & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

19641 Mack Ave, Grosse Pointe, MI 48236

800-923-0641

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LEGAL TERMS

LIMITED LIABILITY

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or ... (more...)

The maximum amount a business owner can lose if the business is subject to debts, claims or other liabilities. An owner of a limited liability company (LLC) or a person who invests in a corporation (a shareholder) generally stands to lose only the amount of money invested in the business. This means that if the business folds, creditors cannot seize or sell an owner's home, car, or other personal assets.

COLLATERAL

Property that guarantees payment of a secured debt.

FDCPA

See Fair Debt Collections & Practices Act.

SETOFF

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a countercl... (more...)

A claim made by someone who allegedly owes money, that the amount should be reduced because the other person owes him money. This is often raised in a counterclaim filed by a defendant in a lawsuit. Banks may try to exercise a setoff by taking money out of a deposit account to satisfy past due payments on a loan or credit card bill. Such an act is illegal under most circumstances.

FCBA

See Fair Credit Billing Act.

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemp... (more...)

In a bankruptcy proceeding, money collected through insurance, arbitration, mediation, settlement or a lawsuit to pay for exempt property that's no longer exemptible because it has been damaged or destroyed.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

NO-FAULT INSURANCE

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain ... (more...)

Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a person's losses and that no-fault does not compensate for pain and suffering.

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Mount Clemens Credit & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Sheryl A. Shoebottom

Steve Sowell

Elizabeth A. Ferguson

Larry R. Kipke

Barry R. Powers

Karen L. Lemke

Sean R. O'Mara

Steven S. Vernier

Dawn M. Walton

Herman G. Petzold

TIPS

LEGAL TERMS

LIMITED LIABILITY

COLLATERAL

FDCPA

SETOFF

FCBA

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

PRESUMED ABUSE

FRATERNAL BENEFIT SOCIETY BENEFITS

NO-FAULT INSURANCE

SAMPLE LEGAL CASES

New Freedom Mtg. Corp. v. Globe Mtg. Corp.

Barth v. FIRST CONSUMER CREDIT, INC.

CHARTER ONE BANK NA v. JP Morgan Chase Bank, NA

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