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Danny Eugene Gray - Bella Vista, California

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ᐅ Gray, Danny Eugene - Bella Vista, California (Court Case:09-47016)

Bankruptcy filed - December 2009, discharged - March 2012
Danny Eugene Gray -  Address: 24250 Earl Court Bella Vista , 96008 California
Court Case:   09-47016
Chapter: 7, A chapter 7
( ... debtor to keep certain "exempt" property; ...) §7
Filed: December 09, 2009
Discharged: March 19, 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.