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Michael Lawrence - Huntsville, Alabama

Debtor:

ᐅ Lawrence, Michael - Huntsville, Alabama (Court Case:12-80299)

Bankruptcy filed - January 2012, discharged - July 2016
Full Name: Michael Lawrence 
Court Case:   12-80299
Chapter 13: Chapter 13 bankruptcy offers several benefits over Chapter 7, especially for individuals looking to avoid losing their homes. It allows for the temporary halting of foreclosure processes, giving homeowners the chance to catch up on missed mortgage payments through a structured plan, while staying current on their ongoing mortgage obligations. Additionally, this chapter provides avenues for restructuring secured debts, which can extend repayment terms and may reduce the amount of each payment. A key feature of Chapter 13 is its protection for co-signers on consumer debts, shielding them from being held liable. The process functions in a manner akin to a consolidation loan, with the debtor making payments to a trustee, who then allocates these funds to the creditors, thereby eliminating the need for direct contact between the debtor and creditors.
Filed: January 30, 2012
Discharged: July 17, 2016