ᐅ Ardestani, Soheyl Bolbolan - Aliso Viejo, California (Court Case:8:15-bk-13218-TA)
Bankruptcy filed - June 2015, discharged - September 2015
Soheyl Bolbolan Ardestani - Address: 22501 Chase Apartment 4306 Aliso Viejo , 92656-7002 California
7, A chapter 7 ( ... the debtor's property may be subject to ...)§7
June 24, 2015
September 22, 2015
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.