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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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Mark Alan Powers

Litigation, Trusts, Merger & Acquisition, Credit & Debt

Status: Licensed: 29 Years

CONTACT

Grand Haven, MI 49417

Michael J. Zitta

Divorce, Guardianships & Conservatorships, Elder Law, Bankruptcy, Landlord-Tenant

Status: Licensed: 30 Years

CONTACT

300 Washington Ave, Grand Haven, MI 49417

Bradford W. Springer

Litigation, Lawsuit & Dispute, Employee Rights, Criminal, Collection

Status: Licensed: 21 Years

CONTACT

100 N 3Rd St, Grand Haven, MI 49417

Bradley J. Fisher

Real Estate, Employee Rights, Administrative Law, Bankruptcy

Status: Licensed: 23 Years

CONTACT

100 N 3Rd St, Grand Haven, MI 49417

Michael Lee Deyoung

Motor Vehicle, Divorce & Family Law, Criminal, Bankruptcy & Debt

Status: Licensed: 20 Years

CONTACT

690 Ridgefield Ct, Coopersville, MI 49404

Barry C. Lemmen

Social Security, Government, Family Law, Consumer Bankruptcy

Status: Licensed: 23 Years

CONTACT

274 Main St, Coopersville, MI 49404

Catherine Jones-Rikkers

Estate Planning, Labor Law, Employment, Consumer Bankruptcy

Status: Licensed: 36 Years

CONTACT

1 College Landing, Allendale, MI 49401

William B. Groom

Litigation, Employee Rights, Business, Credit & Debt

Status:

CONTACT

281 Seminole Rd, Muskegon, MI 49444

Scott Mancinelli

Business, Divorce & Family Law, Estate, Bankruptcy & Debt, Accident & Injury

Status: Licensed: 31 Years

FREE CONSULTATION

CONTACT

10500 Chicago Drive, Zeeland, MI 49464

Louis R. Lint

Bankruptcy

Status: Licensed: 50 Years

CONTACT

1450 Forest Park Rd, Muskegon, MI 49441

800-814-6700

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LEGAL TERMS

REDEMPTION

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump s... (more...)

In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.

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.

NONPROFIT CORPORATION

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or f... (more...)

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under _ 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

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.

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.

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.

FCRA

See Fair Credit Reporting Act.

FORBEARANCE

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily ... (more...)

Voluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's payments.

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Grand Haven Bankruptcy & Debt Lawyer, Michigan

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Mark Alan Powers

Michael J. Zitta

Bradford W. Springer

Bradley J. Fisher

Michael Lee Deyoung

Barry C. Lemmen

Catherine Jones-Rikkers

William B. Groom

Scott Mancinelli

Louis R. Lint

TIPS

LEGAL TERMS

REDEMPTION

REAFFIRMATION

NONPROFIT CORPORATION

INTEREST

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

LIMITED PARTNERSHIP

LIABILITY

FCRA

FORBEARANCE

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