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Jessica L Mccoy - District Heights, Maryland

Debtor:

ᐅ Mccoy, Jessica L - District Heights, Maryland (Court Case:2014-16749)

Bankruptcy filed - April 2014, discharged - July 2014
Full Name: Jessica L Mccoy 
Court Case:   2014-16749
Chapter 7: Chapter 7 bankruptcy differs from Chapter 13 in that it does not require a repayment plan. Instead, it involves a trustee selling the debtor's nonexempt assets to repay creditors, following the rules of the Bankruptcy Code. Debtors may keep exempt assets but risk losing other property through this process.
Filed: April 27, 2014
Discharged: July 26, 2014




Debtor:

ᐅ Mccoy, Jessica L - District Heights, Maryland (Court Case:14-16749)

Bankruptcy filed - April 2014, discharged - July 2014
Full Name: Jessica L Mccoy 
Court Case:   14-16749
Chapter 7: In the framework of Chapter 13 bankruptcy, a structured repayment plan is central, differing significantly from scenarios where assets are liquidated to satisfy debts. Here, rather than resorting to the sale of the debtor's nonexempt property, a managed plan allows for debt resolution while the debtor retains their property. This method involves organizing payments to creditors, overseen by a trustee, without the need to liquidate assets. It's designed to protect certain assets from being sold, providing a path for debtors to avoid the potential loss of property while addressing their financial obligations.
Filed: April 27, 2014
Discharged: July 26, 2014