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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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Nancy E. Gallagher

Trusts, Family Law, Contract, Credit & Debt

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120 E Superior St, Alma, MI 48801

Ashley R. Garchow

Landlord-Tenant, Federal Appellate Practice, Contract, Collection

Status: Licensed: 21 Years

CONTACT

300 Rodd Street, Midland, MI 48640

W. Jay Brown

Construction, Contract, Credit & Debt, Defamation & Slander

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414 Townsend St, Midland, MI 48640

Jay W. Brown

Contract, Credit & Debt, Defamation & Slander, Construction

Status: Licensed: 27 Years

CONTACT

414 Townsend St, Midland, MI 48640

Brandon James Richardson

Estate Planning, Employee Rights, Elder Law, Consumer Bankruptcy

Status: Licensed: 15 Years

CONTACT

3114 Jefferson Ave, Midland, MI 48640

Adam Daniel Bruski

Commercial Real Estate, International, Administrative Law, Business, Bankruptcy

Status: Licensed: 19 Years

CONTACT

715 East Main Street, Midland, MI 48640

Thomas H. Weiss

Landlord-Tenant, Family Law, Contract, Credit & Debt

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1234 E Broomfield St, Mount Pleasant, MI 48858

Becky J. Bolles

Wills & Probate, Estate, Divorce & Family Law, Corporate, Collection

Status: Licensed: 28 Years

CONTACT

300 S University Ave, Mount Pleasant, MI 48858

Lesley A Hoenig

Landlord-Tenant, Estate, Bankruptcy, Bankruptcy & Debt

Status: Licensed: 17 Years

CONTACT

407 E Broadway Street, Mount Pleasant, MI 48858

Michael C. Hyde

Estate, Divorce & Family Law, Elder Law, Contract, Bankruptcy & Debt

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201 S University Ave, Mount Pleasant, MI 48858

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LEGAL TERMS

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

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.

CREDITOR

A person or entity (such as a bank) to whom a debt is owed.

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.

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).

CREDIT BUREAU

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit... (more...)

A private, profit-making company that collects and sells information about a person's credit history. Typical clients include banks, mortgage lenders and credit card companies that use the information to screen applicants for loans and credit cards. There are three major credit bureaus, Equifax, Experian and Trans Union, and they are regulated by the federal Fair Credit Reporting Act.

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.

FAIR LABOR STANDARDS ACT (FLSA)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements ... (more...)

A federal law that guarantees a worker's right to be paid fairly. The FLSA defines the 40-hour workweek, sets out the federal minimum wage, states requirements for overtime and places restrictions on child labor.

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Breckenridge Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Nancy E. Gallagher

Ashley R. Garchow

W. Jay Brown

Jay W. Brown

Brandon James Richardson

Adam Daniel Bruski

Thomas H. Weiss

Becky J. Bolles

Lesley A Hoenig

Michael C. Hyde

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LEGAL TERMS

PRIORITY DEBT

PREFERENCE

SECURED DEBT

CREDITOR

LIMITED PARTNERSHIP

CREDIT REPORT

CREDIT BUREAU

NO-FAULT INSURANCE

FAIR LABOR STANDARDS ACT (FLSA)

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