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Michael Worthen - Salem, New York

Debtor:

ᐅ Worthen, Michael - Salem, New York (Court Case:09-14051-1)

Bankruptcy filed - October 2009, discharged - February 2010
Full Name: Michael Worthen 
Court Case:   09-14051-1
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: October 28, 2009
Discharged: February 03, 2010