Stephanie Abalos Tucson Arizona

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Debtor: Abalos, Stephanie - Tucson, Arizona (AZ)

Bankruptcy filed - June 2010, discharged - September 2010
Court Case: 4:10-bk-17414 (Arizona Bankruptcy Court)
Chapter: 7, A chapter 7 ... case does not involve the filing of a plan of ... §7
Filed: June 02, 2010
Discharged: September 08, 2010

Stephanie Abalos   Address: 3201 East Fort Lowell Road Apartment 1080 Tucson, 85716 Arizona

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.