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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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Barbara A. Muller-Wilson

Real Estate, Consumer Rights, Children's Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 35 Years

CONTACT

979 Spaulding Ave Se, Ada, MI 49301

Denise D. Twinney

Business, Credit & Debt, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

300 Ottawa Ave Nw, Grand Rapids, MI 49503

Raymond C. Schultz

Litigation, Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

333 Bridge St Nw, Grand Rapids, MI 49504

Bryan Reeder

Trusts, Family Law, Administrative Law, Bankruptcy

Status: In Good Standing

CONTACT

124 Fulton St E, Grand Rapids, MI 49503

Matthew Thomas Berry

Workers' Compensation, Contract, Bankruptcy, Defamation & Slander

Status: In Good Standing Licensed: 10 Years

CONTACT

146 Monroe Center St Nw, Grand Rapids, MI 49503

Rodney D. Martin

Biotechnology, Employee Rights, Business, Consumer Bankruptcy

Status: In Good Standing

CONTACT

150 Ottawa Ave Nw, Grand Rapids, MI 49503

Martin Blase Mead

Litigation, Employee Rights, Administrative Law, Consumer Bankruptcy

Status: In Good Standing Licensed: 39 Years

CONTACT

29 Pearl St Nw, Grand Rapids, MI 49503

Jeffrey David Mapes

Other, Foreclosure, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing Licensed: 18 Years

CONTACT

29 Pearl St Nw, Grand Rapids, MI 49503

William J. Keim

Real Estate, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

1720 Michigan St Ne, Grand Rapids, MI 49503

Todd Almassian

Foreclosure, International Tax, Bankruptcy, Bankruptcy & Debt

Status: In Good Standing

CONTACT

230 East Fulton Street, Grand Rapids, MI 49503

800-923-0641

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LEGAL TERMS

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

MEETING OF CREDITORS

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a f... (more...)

A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

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.

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.

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.

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.

Pierson Bankruptcy & Debt Lawyer, Michigan, page 5

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Barbara A. Muller-Wilson

Denise D. Twinney

Raymond C. Schultz

Bryan Reeder

Matthew Thomas Berry

Rodney D. Martin

Martin Blase Mead

Jeffrey David Mapes

William J. Keim

Todd Almassian

TIPS

LEGAL TERMS

CREDIT REPORT

SECURED DEBT

MEETING OF CREDITORS

NONEXEMPT PROPERTY

REAFFIRMATION

LIABILITY

REPOSSESSION

S CORPORATION

FCBA

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