The following is a list of Lancaster County bankruptcies filed in United States Bankruptcy Court, Eastern District of Pennsylvania, Reading, from May 10-16.
LONG, Jason A., 300 block of Schoolhouse Road, New Providence. Chapter 13.
VERDIYAN, Lyudmila and Ashot Verdiyan, 4100 block of Jasmine Place, Mount Joy. Chapter 7.
Under Chapter 7 of the US Bankruptcy Code, a debtor’s assets are liquidated to pay creditors. Under Chapter 11, the debtor, often a business, reorganizes and can pay certain creditors. Under Chapter 13, a debtor offers a repayment plan.