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Ernest D Brandvold - Bella Vista, California

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ᐅ Brandvold, Ernest D - Bella Vista, California (Court Case:11-22339)

Bankruptcy filed - January 2011, discharged - May 2011
Ernest D Brandvold -  Address: PO Box 1093 Bella Vista , 96008 California
Court Case:   11-22339
Chapter: 7, A chapter 7
( ... a trustee will liquidate the debtor's remaining ...) §7
Filed: January 30, 2011
Discharged: May 22, 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.