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Serena Alleen Pace - Bella Vista, California

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ᐅ Pace, Serena Alleen - Bella Vista, California (Court Case:11-29525)

Bankruptcy filed - April 2011, discharged - August 2011
Serena Alleen Pace -  Address: PO Box 844 Bella Vista , 96008 California
Court Case:   11-29525
Chapter: 7, A chapter 7
( ... Part of the debtor's property may be subject to ...) §7
Filed: April 17, 2011
Discharged: August 07, 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.