ᐅ Abdulkader, Mohamad Nazih - Aliso Viejo, California (Court Case:8:13-bk-16966-ES)
Bankruptcy filed - August 2013, discharged - November 2013
Mohamad Nazih Abdulkader - Address: 27068 La Paz Road # 219 Aliso Viejo , 92656 California
7, A chapter 7 ( ... 13. Instead, the bankruptcy trustee gathers and sells ...)§7
August 14, 2013
November 24, 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.