Manpreet Singh Aanand Van Nuys California

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Debtor: Aanand, Manpreet Singh - Van Nuys, California (CA)

Bankruptcy filed - July 2012, discharged - December 2012
Court Case: 1:12-bk-16857-AA (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... the provisions of the Bankruptcy Code. ... §7
Filed: July 30, 2012
Discharged: December 02, 2012

Manpreet Singh Aanand   Address: 15123 Sherman Way Apartment 101 Van Nuys, 91405 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.