Kevin Manuel Abad Lakeland Florida

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Debtor: Abad, Kevin Manuel - Lakeland, Florida (FL)

Bankruptcy filed - May 2009, discharged - August 2009
Court Case: 8:09-bk-10405 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... gathers and sells the debtor's nonexempt assets and uses ... §7
Filed: May 19, 2009
Discharged: August 30, 2009

Kevin Manuel Abad   Address: 945 Mississippi Avenue Lakeland, 33803 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.