Armando Acierto Abadilla Rialto California

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Abadilla, Armando Acierto - Rialto, California (CA)

Bankruptcy filed - January 2015, discharged - April 2015
Court Case: 6:15-bk-10119-WJ (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... certain "exempt" property; but a trustee will ... §7
Filed: January 06, 2015
Discharged: April 06, 2015

Armando Acierto Abadilla California  
Address: 3905 North Sweet Leaf Avenue Rialto , 92377-2736 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.