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Luke Richard Thomas - Plano, Illinois

Debtor:

ᐅ Thomas, Luke Richard - Plano, Illinois (Court Case:16-17592)

Bankruptcy filed - May 2016, discharged - August 2016
Full Name: Luke Richard Thomas 
Court Case:   16-17592
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: May 24, 2016
Discharged: August 22, 2016