ᐅ Au, Fiona - Aliso Viejo, California (Court Case:8:10-bk-24473-RK)
Bankruptcy filed - October 2010, discharged - February 2011
Fiona Au - Address: 22501 Chase Apartment 6114 Aliso Viejo , 92656 California
7, A chapter 7 ( ... of the Bankruptcy Code. Part of the debtor's ...)§7
October 10, 2010
February 01, 2011
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.