ᐅ Manners, Thomas F - Apollo, Pennsylvania (Court Case:07-24019)
Bankruptcy filed - June 2007, discharged - October 2012
Full Name: Thomas F Manners
Court Case:
07-24019
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.
ᐅ Manners, Thomas F - Apollo, Pennsylvania (Court Case:15-22243)
Bankruptcy filed - June 2015, discharged - September 2015
Full Name: Thomas F Manners
Court Case:
15-22243
Chapter 7:
Chapter 7 bankruptcy differs from Chapter 13 in that it does not require a repayment plan. Instead, it involves a trustee selling the debtor's nonexempt assets to repay creditors, following the rules of the Bankruptcy Code. Debtors may keep exempt assets but risk losing other property through this process.
