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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

Kenneth W. Beall

Tax, Real Estate, Litigation, Business, Bankruptcy

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124 W Allegan St, Lansing, MI 48933

Kenneth U. Lucas

Real Estate, Employment, Business, Commercial Bankruptcy, Estate Planning

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200 Woodland Pass, East Lansing, MI 48823

Conrad H. Vincent

Trusts, Family Law, DUI-DWI, Bankruptcy

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420 S Waverly Rd, Lansing, MI 48917

James B. Croom

Real Estate, Banking & Finance, Business, Bankruptcy

Status: Licensed: 45 Years

CONTACT

615 Southlawn Ave, East Lansing, MI 48823

Michael Robert Wolin

Employment, Felony, Bankruptcy, Defamation & Slander

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407 North Main Street, Ann Arbor, MI 48104

William G. Tishkoff

Lawsuit & Dispute, Employment, Bankruptcy, Accident & Injury

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407 North Main Street, Ann Arbor, MI 48104

Jacalen J. Garris

Divorce & Family Law, Consumer Bankruptcy, Bankruptcy, Wrongful Death, Car Accident

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300 E Washington St, Ann Arbor, MI 48104

Rebekah Page-Gourley

Litigation, Intellectual Property, Federal Appellate Practice, Consumer Bankruptcy

Status: Licensed: 19 Years

CONTACT

1020 Greene St, Ann Arbor, MI 48109

Mable Martin-Scott

Employee Rights, Contract, Business, Consumer Bankruptcy

Status: Licensed: 27 Years

CONTACT

300 S Capitol Ave, Lansing, MI 48933

Kelli C.C. Meeks

Real Estate, Consumer Bankruptcy, Bankruptcy, Bankruptcy & Debt

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455 E Eisenhower Pkwy, Ann Arbor, MI 48108

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LEGAL TERMS

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

CCCS

See Consumer Credit Counseling Service.

DISPOSABLE INCOME

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Ch... (more...)

The difference between a debtor's current monthly income and allowable expenses. This is the amount that the new bankruptcy law deems available to pay into a Chapter 13 plan.

CREDITOR

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

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.

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.

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.

AUTOMATIC STAY

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities,... (more...)

An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.

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.

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Jackson Bankruptcy Lawyer, Michigan, page 5

Sponsored Law Firm

Marrs & Terry, PLLC

SPONSORED LAWYERS

Kenneth W. Beall

Kenneth U. Lucas

Conrad H. Vincent

James B. Croom

Michael Robert Wolin

William G. Tishkoff

Jacalen J. Garris

Rebekah Page-Gourley

Mable Martin-Scott

Kelli C.C. Meeks

TIPS

LEGAL TERMS

BANKRUPTCY

CCCS

DISPOSABLE INCOME

CREDITOR

NONPROFIT CORPORATION

PROCEEDS FOR DAMAGED EXEMPT PROPERTY

INTEREST

AUTOMATIC STAY

WINDING UP

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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