Ramon Abad Hialeah Florida

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Debtor: Abad, Ramon - Hialeah, Florida (FL)

Bankruptcy filed - November 2012, discharged - February 2013
Court Case: 12-37994 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... "exempt" property; but a trustee will liquidate the ... §7
Filed: November 20, 2012
Discharged: February 24, 2013

Ramon Abad   Address: 3835 West 9th Court Hialeah, 33012 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.