Eleanor Abadajos Santa Maria California

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Abadajos, Eleanor - Santa Maria, California (CA)

Bankruptcy filed - March 2013, discharged - July 2013
Court Case: 9:13-bk-10849-RR (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... potential debtors should realize that the ... §7
Filed: March 31, 2013
Discharged: July 11, 2013

Eleanor Abadajos California  
Address: PO Box 1525 Santa Maria , 93456 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.