Kristina Marie Abadie Dana Point California

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Debtor: Abadie, Kristina Marie - Dana Point, California (CA)

Bankruptcy filed - April 2011, discharged - August 2011
Court Case: 8:11-bk-15298-ES (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... nonexempt assets and uses the proceeds of such assets to pay ... §7
Filed: April 13, 2011
Discharged: August 16, 2011

Kristina Marie Abadie   Address: 7 Stonecrest Dana Point, 92629 California

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.