James Wesley Bailey Smiths Station Alabama

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Bankruptcy Database

A
B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Debtor: Bailey, James Wesley - Smiths Station, Alabama (AL)

Bankruptcy filed - February 2014, discharged - May 2014
Court Case: 14-80196 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... with the provisions of the Bankruptcy Code. ... §7
Filed: February 18, 2014
Discharged: May 19, 2014

James Wesley Bailey   Address: PO Box 501 Smiths Station, 36877-0501 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.