Berkys Elena Abad Hollywood Florida

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Debtor: Abad, Berkys Elena - Hollywood, Florida (FL)

Bankruptcy filed - January 2015, discharged - April 2015
Court Case: 15-11477 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... filing of a plan of repayment as ... §7
Filed: January 26, 2015
Discharged: April 26, 2015

Berkys Elena Abad   Address: 2100 North 32nd Court Hollywood, 33021-4433 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.