Manuel C Abad Walnut Creek California

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Debtor: Abad, Manuel C - Walnut Creek, California (CA)

Bankruptcy filed - July 2014, discharged - October 2014
Court Case: 2014-43022 (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... pledge the property to other creditors. In addition, ... §7
Filed: July 17, 2014
Discharged: October 15, 2014

Manuel C Abad   Address: 130 Sharene Lane Apartment 32 Walnut Creek, 94596-4720 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.