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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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Zakaria M. Mahdi

Bankruptcy & Debt, Bankruptcy, Consumer Bankruptcy, Consumer Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

1 Parklane Blvd, Dearborn, MI 48126

Peter C. Doyle

Power of Attorney, Motor Vehicle, Estate, Divorce & Family Law, Bankruptcy & Debt

Status: In Good Standing Licensed: 42 Years

CONTACT

25121 Ford Rd, Dearborn, MI 48128

Joseph Allen Kidd

International Other, Computer Law, Corporate, Commercial Bankruptcy

Status: In Good Standing Licensed: 29 Years

CONTACT

One American Way, Dearborn, MI 48126

Mohamad Issa Bazzi

Workers' Compensation, Consumer Protection, Contract, Collection, Wrongful Death

Status: In Good Standing

CONTACT

25450 Ford Rd, Dearborn Heights, MI 48127

Matthew Leo Barrett

Biotechnology, Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

4 Parklane Blvd, Dearborn, MI 48126

Matthew Leo Barrett

Biotechnology, Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 14 Years

CONTACT

4 Parklane Blvd, Dearborn, MI 48126

Scott Douglas Murdoch

Estate Planning, Employee Rights, Family Law, Consumer Bankruptcy

Status: In Good Standing

CONTACT

6200 Schaefer Rd, Dearborn, MI 48126

Frank Patrick Moran

Consumer Rights, Business, Consumer Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

1 American Rd, Dearborn, MI 48126

Michael R. Yales

Health Care, Family Law, Consumer Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 38 Years

CONTACT

Monroe, MI 48161

Daniel Carmen Dicicco

Foreclosure, Bankruptcy

Status: In Good Standing

CONTACT

23400 Michigan Ave, Dearborn, MI 48124

800-923-0641

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LEGAL TERMS

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.

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.

CHAPTER 13 BANKRUPTCY

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your inc... (more...)

The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.

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.

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.

WINDING UP

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, a... (more...)

The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.

401(K) PLAN

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income ... (more...)

A deferred compensation savings program in which employees invest part of their wages, sometimes along with employer contributions, to save on taxes. No income taxes on the amount invested and any earnings are due until the employee withdraws money from the fund.

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.

NUISANCE FEES

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fe... (more...)

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.

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Rockwood Bankruptcy & Debt Lawyer, Michigan, page 4

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Zakaria M. Mahdi

Peter C. Doyle

Joseph Allen Kidd

Mohamad Issa Bazzi

Matthew Leo Barrett

Matthew Leo Barrett

Scott Douglas Murdoch

Frank Patrick Moran

Michael R. Yales

Daniel Carmen Dicicco

TIPS

LEGAL TERMS

SETOFF

C CORPORATION

CHAPTER 13 BANKRUPTCY

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

LIABILITY

WINDING UP

401(K) PLAN

ADMINISTRATIVE EXPENSES

NUISANCE FEES

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