Enrica Salvador Abando Panorama City California

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Debtor: Abando, Enrica Salvador - Panorama City, California (CA)

Bankruptcy filed - September 2015, discharged - December 2015
Court Case: 1:15-bk-12968-VK (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... proceeds of such assets to pay holders ... §7
Filed: September 03, 2015
Discharged: December 06, 2015

Enrica Salvador Abando   Address: 8519 Willis Avenue Apartment 310 Panorama City, 91402-3436 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.