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Mohammad Reza Bagherifar - Aliso Viejo, California

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ᐅ Bagherifar, Mohammad Reza - Aliso Viejo, California (Court Case:8:15-bk-14568-TA)

Bankruptcy filed - September 2015, discharged - January 2016
Mohammad Reza Bagherifar -  Address: 24 Pamplona Aliso Viejo , 92656-3812 California
Court Case:   8:15-bk-14568-TA
Chapter: 7, A chapter 7
( ... in chapter 13. Instead, the bankruptcy ...) §7
Filed: September 16, 2015
Discharged: January 03, 2016

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.