Ahmad Ababneh Fullerton California

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Debtor: Ababneh, Ahmad - Fullerton, California (CA)

Bankruptcy filed - October 2010, discharged - February 2011
Court Case: 8:10-bk-24466-TA (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... the debtor's remaining assets. Accordingly, potential debtors ... §7
Filed: October 10, 2010
Discharged: February 01, 2011

Ahmad Ababneh   Address: 1426 South Highland Avenue Apartment M102 Fullerton, 92832 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.