personal-bankruptc

Bankruptcy Database

Stanley Antione Colbert - San Juan Capistrano, California

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Colbert, Stanley Antione - San Juan Capistrano, California (Court Case:8:13-bk-16436-MW)

Bankruptcy filed - July 2013, discharged - November 2013
Stanley Antione Colbert 
Court Case:   8:13-bk-16436-MW
Chapter: 7, A chapter 7
( ... of such assets to pay holders of claims (creditors) in accordance with ...) §7
Filed: July 29, 2013
Discharged: November 17, 2013



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.