ᐅ Bates, Steven Walter - Bella Vista, California (Court Case:13-32352)
Bankruptcy filed - September 2013, discharged - December 2013
Steven Walter Bates - Address: 13984 Dusty Oaks Trail Bella Vista , 96008 California
Court Case:
13-32352
Chapter:
7, A chapter 7 ( ... Accordingly, potential debtors should realize that the ...)§7
Filed:
September 19, 2013
Discharged:
December 28, 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.
