Amos Edward Benton Smiths Station Alabama

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Debtor: Benton, Amos Edward - Smiths Station, Alabama (AL)

Bankruptcy filed - July 2015, discharged - October 2015
Court Case: 15-80983 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... assets and uses the proceeds of such assets to pay holders of ... §7
Filed: July 23, 2015
Discharged: October 21, 2015

Amos Edward Benton   Address: 2930 Lee Road 430 Apartment 31A Smiths Station, 36877-2560 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.