Evelyn L Culpepper Smiths Station Alabama

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Debtor: Culpepper, Evelyn L - Smiths Station, Alabama (AL)

Bankruptcy filed - September 2013, discharged - December 2013
Court Case: 13-81382 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... assets and uses the proceeds of such assets to pay ... §7
Filed: September 25, 2013
Discharged: December 27, 2013

Evelyn L Culpepper   Address: 187 Lee Road 289 Smiths Station, 36877 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.