Elisa Alina Abad Union City California

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Debtor: Abad, Elisa Alina - Union City, California (CA)

Bankruptcy filed - September 2014, discharged - December 2014
Court Case: 14-43839 (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... nonexempt assets and uses the proceeds of ... §7
Filed: September 18, 2014
Discharged: December 17, 2014

Elisa Alina Abad   Address: 4700 Delores Drive Union City, 94587-5112 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.