Kristi Bonniot Smiths Station Alabama

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Debtor: Bonniot, Kristi - Smiths Station, Alabama (AL)

Bankruptcy filed - March 2014, discharged - June 2014
Court Case: 14-80299 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... the property to other creditors. In addition, ... §7
Filed: March 06, 2014
Discharged: June 04, 2014

Kristi Bonniot   Address: 253 Lee Road 302 Smiths Station, 36877-3944 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.