Iron County, MI Bankruptcy & Debt Lawyers

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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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Not enough matches for Iron Bankruptcy & Debt lawyer.
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Vincent R. Petrucelli

Accident & Injury, Personal Injury, Medical Malpractice, Lawsuit, Slip & Fall Accident

Status: In Good Standing Licensed: 48 Years

FREE CONSULTATION

CONTACT

328 W Genesee St, Iron River, MI 49935

Roy P. Polich

Litigation, Estate, Family Law, Criminal

Status: In Good Standing Licensed: 43 Years

CONTACT

117 W Genesee St, Iron River, MI 49935

Mark D. Tousignant

Real Estate, Civil & Human Rights, Business

Status: In Good Standing Licensed: 48 Years

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126 W Maple St, Iron River, MI 49935

Roy P Polich

Litigation, Family Law, Criminal

Status: In Good Standing Licensed: 43 Years

CONTACT

117 W Genesee St, Iron River, MI 49935

Donald S. Powell

Juvenile Law, Family Law, Elder Law, Administrative Law

Status: In Good Standing Licensed: 38 Years

CONTACT

125 Nicholson Rd, Iron River, MI 49935

Nora A. Petrucelli

Personal Injury, Wrongful Death, Medical Malpractice, Products Liability, Railroad Injury

Status: In Good Standing Licensed: 46 Years

CONTACT

328 W Genesee St, Iron River, MI 49935

Steve J. Polich

Real Estate, Estate Planning, Family Law, Divorce & Family Law

Status: In Good Standing Licensed: 50 Years

CONTACT

433 N 3Rd Ave, Iron River, MI 49935

Dennis M. Tousignant

Criminal, Legal Malpractice

Status: In Good Standing Licensed: 30 Years

CONTACT

433 N 3Rd Ave, Iron River, MI 49935

Steven J. Tinti

Real Estate, Government, Environmental Law, Business

Status: In Good Standing Licensed: 41 Years

CONTACT

201 S Fifth St, Crystal Falls, MI 49920

Jonny L. Waara

Other, Accident & Injury

Status: In Good Standing Licensed: 28 Years

CONTACT

328 W Genesee St, Iron River, MI 49935

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LEGAL TERMS

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

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.

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.

PRESUMED ABUSE

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means te... (more...)

In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.

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.

GRACE PERIOD

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you h... (more...)

A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.

LIEN

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortg... (more...)

The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

COLLECTION AGENCY

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the d... (more...)

A company hired by a creditor to collect a debt that it is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, typically through letters (called 'dunning' letters) and telephone calls. Collection agencies are regulated by the federal Fair Debt Collection Practices Act. Unfortunately, too many collectors ignore this law.

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Iron County, MI Bankruptcy & Debt Lawyers

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Vincent R. Petrucelli

Roy P. Polich

Mark D. Tousignant

Roy P Polich

Donald S. Powell

Nora A. Petrucelli

Steve J. Polich

Dennis M. Tousignant

Steven J. Tinti

Jonny L. Waara

TIPS

LEGAL TERMS

SUBROGATION

UNSECURED DEBT

LIMITED PARTNERSHIP

PRESUMED ABUSE

S CORPORATION

GRACE PERIOD

LIEN

FRATERNAL BENEFIT SOCIETY BENEFITS

COLLECTION AGENCY

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