ᐅ Sterken, Vaughn E - Alto, Michigan (Court Case:14-03041)
Bankruptcy filed - April 2014, discharged - July 2014
Full Name: Vaughn E Sterken
Court Case:
14-03041
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 Sterken, Vaughn E - Alto, Michigan (Court Case:2014-03041)
Bankruptcy filed - April 2014, discharged - July 2014
Full Name: Vaughn E Sterken
Court Case:
2014-03041
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.
