ᐅ Kishel, David W - Madison, Connecticut (Court Case:09-32949)
Bankruptcy filed - October 2009, discharged - January 2010
Full Name: David W Kishel
Court Case:
09-32949
Chapter 7:
Chapter 13 bankruptcy is characterized by its repayment plan, which does not involve the liquidation of the debtor's assets. In this arrangement, instead of selling nonexempt property to pay creditors, the debtor makes payments through a structured plan overseen by a trustee. This approach allows debtors to retain their assets while working towards debt resolution.
ᐅ Kishel, David W - Madison, Connecticut (Court Case:10-31523)
Bankruptcy filed - May 2010, discharged - October 2014
Full Name: David W Kishel
Court Case:
10-31523
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.
