Francisco Abalo Miami Florida

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Bankruptcy Database

Debtor: Abalo, Francisco - Miami, Florida (FL)

Bankruptcy filed - August 2011, discharged - December 2011
Court Case: 11-33928 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... potential debtors should realize that the filing of ... §7
Filed: August 28, 2011
Discharged: December 21, 2011

Francisco Abalo   Address: PO Box 700382 Miami, 33170 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.