ᐅ Sexton, David A - Isom, Kentucky (Court Case:16-70520)
Bankruptcy filed - August 2016, discharged - November 2016
Full Name: David A Sexton
Court Case:
16-70520
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.
ᐅ Sexton, David A - Isom, Kentucky (Court Case:07-70163)
Bankruptcy filed - April 2007, discharged - June 2013
Full Name: David A Sexton
Court Case:
07-70163
Chapter 13:
Chapter 13 bankruptcy provides distinct advantages compared to Chapter 7, particularly in aiding individuals to prevent home foreclosure. It enables pausing foreclosure and settling overdue mortgage payments over time, while maintaining current mortgage dues. This chapter also offers debt restructuring opportunities for secured debts, extending the repayment period and potentially lowering payments. Notably, Chapter 13 includes provisions safeguarding co-signers on consumer debts from liability. It operates similarly to a consolidation loan, where the debtor pays the trustee, who then disburses funds to creditors, avoiding direct interaction between the debtor and creditors.
