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John Thomas Smith - Chesterfield, Michigan

Debtor:

ᐅ Smith, John Thomas - Chesterfield, Michigan (Court Case:15-56904)

Bankruptcy filed - November 2015, discharged - February 2016
Full Name: John Thomas Smith 
Court Case:   15-56904
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: November 18, 2015
Discharged: February 16, 2016