Guadalupe Abad Miami Florida

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Debtor: Abad, Guadalupe - Miami, Florida (FL)

Bankruptcy filed - November 2010, discharged - February 2011
Court Case: 10-44460 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... mortgages that pledge the property to other creditors. In addition, the Bankruptcy ... §7
Filed: November 07, 2010
Discharged: February 17, 2011

Guadalupe Abad   Address: 10651 Hammocks Boulevard Apartment 838 Miami, 33196 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.