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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.
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Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Catherine Ann Sala

Trusts, Divorce, Contract, Bankruptcy

Status: In Good Standing Licensed: 17 Years

CONTACT

425 N Main St, Adrian, MI 49221

Denis F. Jodis

Workers' Compensation, Contract, Bankruptcy, Medical Malpractice

Status: In Good Standing

CONTACT

216 N. Main Street, Adrian, MI 49221

Ray G. Tallerday

Bankruptcy

Status: Suspended Licensed: 45 Years

CONTACT

107 S Broad St, Adrian, MI 49221

Rodney Aulborn Fleming

Workers' Compensation, Corporate, Bankruptcy, Personal Injury

Status: In Good Standing Licensed: 34 Years

CONTACT

4103 Lake Forest Dr W, Ann Arbor, MI 48108

Shara Lasha Williams

Intellectual Property, Labor Law, Commercial Bankruptcy

Status: In Good Standing

CONTACT

350 S Main St, Ann Arbor, MI 48104

Mark Michael Hamilton

Patent, Intellectual Property, Bankruptcy, Medical Malpractice

Status: In Good Standing Licensed: 16 Years

CONTACT

600 S Wagner Rd, Ann Arbor, MI 48103

Kurt Vander Voort

Estate Planning, Family Law, Criminal, Consumer Bankruptcy, Elder Law

Status: In Good Standing Licensed: 30 Years

CONTACT

Ann Arbor, MI 48113

Nora Lee Wright

Consumer Protection, Corporate, Collection, Bankruptcy

Status: In Good Standing Licensed: 45 Years

CONTACT

218 W Kingsley St, Ann Arbor, MI 48103

Robin D. Stephens

Criminal, Children's Rights, Consumer Bankruptcy

Status: In Good Standing Licensed: 27 Years

CONTACT

Ann Arbor, MI 48107

Dominic N. Hamden

Landlord-Tenant, Estate Planning, Family Law, Bankruptcy

Status: In Good Standing Licensed: 20 Years

CONTACT

18 W Main St, Milan, MI 48160

800-923-0641

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LEGAL TERMS

ACCORD AND SATISFACTION

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collectin... (more...)

An agreement to settle a contract dispute by accepting less than what's due. This procedure is often used by creditors who want to cut their losses by collecting as much money as they can from debtors who cannot pay the full amount.

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.

DEFINED CONTRIBUTION PLAN

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount ... (more...)

A type of pension plan that does not guarantee any particular pension amount upon retirement. Instead, the employer pays into the pension fund a certain amount every month, or every year, for each employee. The employer usually pays a fixed percentage of an employee's wages or salary, although sometimes the amount is a fraction of the company's profits, with the size of each employee's pension share depending on the amount of wage or salary. Upon retirement, each employee's pension is determined by how much was contributed to the fund on behalf of that employee over the years, plus whatever earnings that money has accumulated as part of the investments of the entire pension fund.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

MEANS TEST

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income ... (more...)

A formula that uses predefined income and expense categories to determine whether a debtor whose current monthly income is higher than the median family income for his or her state should be allowed to file for Chapter 7 bankruptcy.

SECRET WARRANTY PROGRAM

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid... (more...)

A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.

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.

UNSECURED DEBT

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only reme... (more...)

A debt that is not tied to any item of property. A creditor doesn't have the right to grab property to satisfy the debt if you default. The creditor's only remedy is to sue you and get a judgment. Compare secured debt.

WORKOUT

A debtor's plan to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.

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Clinton Bankruptcy Lawyer, Michigan, page 2

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Catherine Ann Sala

Denis F. Jodis

Ray G. Tallerday

Rodney Aulborn Fleming

Shara Lasha Williams

Mark Michael Hamilton

Kurt Vander Voort

Nora Lee Wright

Robin D. Stephens

Dominic N. Hamden

TIPS

LEGAL TERMS

ACCORD AND SATISFACTION

LIABILITY

DEFINED CONTRIBUTION PLAN

GENERAL PARTNER

MEANS TEST

SECRET WARRANTY PROGRAM

WINDING UP

UNSECURED DEBT

WORKOUT

SAMPLE LEGAL CASES

RDM Holdings, Ltd. v. Continental Plastics Co.

Gulf Underwriters Ins. Co. v. McCLAIN INDUSTRIES, INC.

MICHIGAN COMMERCE BANK v. PALMS INVESTMENTS, LLC

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