Herbert Phillip Askew Smiths Station Alabama

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Debtor: Askew, Herbert Phillip - Smiths Station, Alabama (AL)

Bankruptcy filed - January 2015, discharged - April 2015
Court Case: 15-80142 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... the bankruptcy trustee gathers and sells the debtor's ... §7
Filed: January 30, 2015
Discharged: April 30, 2015

Herbert Phillip Askew   Address: 379 Lee Road 242 Smiths Station, 36877-3535 Alabama

A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.