Lorrie Jean German Smiths Station Alabama

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Debtor: German, Lorrie Jean - Smiths Station, Alabama (AL)

Bankruptcy filed - July 2011, discharged - October 2011
Court Case: 11-81121 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... will liquidate the debtor's remaining assets. Accordingly, potential debtors should ... §7
Filed: July 27, 2011
Discharged: October 28, 2011

Lorrie Jean German   Address: 188 Lee Road 301 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.