Vielka Maria Abad Anaheim California

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Debtor: Abad, Vielka Maria - Anaheim, California (CA)

Bankruptcy filed - February 2012, discharged - June 2012
Court Case: 8:12-bk-11462-ES (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... of a plan of repayment as in chapter 13. Instead, ... §7
Filed: February 02, 2012
Discharged: June 06, 2012

Vielka Maria Abad   Address: 2130 West Crescent Avenue Apartment 1068 Anaheim, 92801 California

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.