ᐅ Collins, Carmella R - Cincinnati, Ohio (Court Case:1:08-bk-15245)
Bankruptcy filed - September 2008, discharged - July 2013
Full Name: Carmella R Collins
Court Case:
1:08-bk-15245
Chapter 13:
Chapter 13 bankruptcy offers several benefits over Chapter 7, especially for homeowners facing foreclosure. It allows individuals to halt foreclosure processes and gradually catch up on overdue mortgage payments, although ongoing mortgage payments must be maintained. This chapter also permits the restructuring of secured debts (except primary residence mortgages), potentially reducing payments by extending them over the plan's duration. A unique feature of Chapter 13 is the protection it offers to co-signers on consumer debts, shielding them from liability. Additionally, Chapter 13 consolidates debts, enabling individuals to make payments to a trustee who then pays creditors, eliminating direct creditor contact.
ᐅ Collins, Carmella R - Cincinnati, Ohio (Court Case:1:15-bk-12547)
Bankruptcy filed - June 2015, discharged - September 2015
Full Name: Carmella R Collins
Court Case:
1:15-bk-12547
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.
