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Jr Roy Edwin Geisler - Bella Vista, California

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ᐅ Geisler, Jr Roy Edwin - Bella Vista, California (Court Case:12-24971)

Bankruptcy filed - March 2012, discharged - July 2012
Jr Roy Edwin Geisler -  Address: PO Box 435 Bella Vista , 96008 California
Court Case:   12-24971
Chapter: 7, A chapter 7
( ... as in chapter 13. Instead, the bankruptcy trustee ...) §7
Filed: March 13, 2012
Discharged: July 03, 2012

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.