The following are recent bankruptcy filings in U.S. District Court in Baltimore.
* Johnny's Auto Sales, 8100 Old Harford Road, Baltimore. Retail/wholesale used automobile business filed for Chapter 11. Principals: John H. Wilbanks and Katherine Wilbanks. Assets: under $50,000. Liabilities: under $50,000.
* David W. Wehrs, 201 River House Road, Queenstown. Principal in retail/wholesale seafood business filed for Chapter 7. Assets: $239,575. Liabilities: $2,796,685.
* Paulett's Fashions; Paulett's Daycare, 9451 Vollmerhausen Drive, Columbia. Pauletta Benns, principal in retail clothing and child-care business filed for Chapter 13. Assets: $141,920. Liabilities: $113,617.
* Stephanie A. Bunce, 2838 O'Donnell Street, Baltimore. Principal in hair dresser business filed for Chapter 7. Assets: $97,185. Liabilities: $27,841.
* Jack A. Pryor, 103 Westfield Road, Glen Burnie. Principal in retail/wholesale newspaper distributorship filed for Chapter 7. Assets: $150,956. Liabilities: $169,459.
* Gabriel McCargo and Mary L. McCargo, 5520 Wabash Avenue, Baltimore. Principals in transportation business filed for Chapter 7. Assets: $32,285. Liabilities: $95,300.
* W & W Hair Salon, 1826 Woodlawn Drive, Baltimore. Hair salon business filed for Chapter 13. Owner: Wanda Gloria Moody. Assets: $16,000. Liabilities: $203,242.
* Tammy's Children's Wear, Marlboro Road Shopping Center, Easton. Retail/wholesale children's wear business filed for Chapter 7. Principals: John R. Shostak and J. Lynne Shostak. Assets: $270,169. Liabilities: $1,248,021.
* Michael J. Wildt and Leslie A. Wildt, 8400 Carlson Lane, Baltimore. Principals in carpet installation business filed for Chapter 13. Assets: $257,575. Liabilities: $184,950.
* John E. Stroman and Betty Jo Ann Stroman, 183 Wayson's Court, Lothian. Principals in sales and consulting business filed for Chapter 7. Assets: $11,875. Liabilities: $166,916.
* Andujar Holland Inc., 8035 Clark Station Road, Severn. Construction business filed for Chapter 7. President: Timothy Charles Holland Sr. Assets: $11,000. Liabilities: $77,873.
The following are the most common types of filings under the U.S. Bankruptcy Code.
CHAPTER 7 -- Liquidation. A trustee is appointed to take charge of all the debtor's property, except for certain exceptions allowed in the law. The trustee will sell the remaining property for the benefit of creditors, and unless a creditor objects and is upheld by the court, the debt will be discharged.
CHAPTER 11 -- Reorganization. Available to all individuals or businesses, this chapter is primarily intended to allow an ongoing business to restructure its debt. A successful reorganization depends on filing a plan and obtaining its approval by creditors and the court.
CHAPTER 13 -- Adjustment of debts of an individual with regular income. This chapter provides a method for individual debtors to repay creditors over a period of up to five years. It ordinarily involves less than $100,000 in unsecured debt and $350,000 in secured debt.
d/b/a (doing business as) or t/a (trading as): an assumed name a person uses instead of the business name or one's personal name.