personal-bankruptc

Bankruptcy Database

Anita Marie Elam - Van Buren, Arkansas

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Elam, Anita Marie - Van Buren, Arkansas (Court Case:2:13-bk-71495)

Bankruptcy filed - April 2013, discharged - July 2013
Anita Marie Elam 
Court Case:   2:13-bk-71495
Chapter: 7, A chapter 7
( ... will allow the debtor to keep certain "exempt" property; ...) §7
Filed: April 24, 2013
Discharged: July 31, 2013



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.