Caroline Bouvier Beaumonoir Smiths Station Alabama

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Debtor: Beaumonoir, Caroline Bouvier - Smiths Station, Alabama (AL)

Bankruptcy filed - November 2014, discharged - February 2015
Court Case: 14-33067 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... the proceeds of such assets to ... §7
Filed: November 10, 2014
Discharged: February 08, 2015

Caroline Bouvier Beaumonoir   Address: 19707 US Highway 280 East Apartment 503 Smiths Station, 36877-4035 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.