Raphael Andres Abad Davenport Florida

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Debtor: Abad, Raphael Andres - Davenport, Florida (FL)

Bankruptcy filed - August 2014, discharged - November 2014
Court Case: 8:2014-bk-10232 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... will liquidate the debtor's remaining assets. ... §7
Filed: August 28, 2014
Discharged: November 26, 2014

Raphael Andres Abad   Address: 1427 Belvoir Drive Davenport, 33837-8286 Florida

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.