Here is a list of Lancaster County bankruptcies recorded in U.S. Bankruptcy Court, Eastern District of Pennsylvania, Reading, Dec. 7-13.
FINEFROCK, Susan L., 1900 block of Oregon Pike. Chapter 7.
JOHNSON, Cassandra L., 300 block of Stonemill Road. Chapter 13.
PIERCE, John M., 2400 block of Shenck Road, Manheim. Chapter 7.
Under Chapter 7 of the U.S. Bankruptcy Code, a debtor’s assets are liquidated to pay creditors. Under Chapter 11, the debtor, often a company, reorganizes and may pay some creditors. Under Chapter 13, a debtor proposes a repayment plan.