personal-bankruptc

Bankruptcy Database

Humberto Jesus Basoa - Miami, Florida

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Basoa, Humberto Jesus - Miami, Florida (Court Case:12-34332)

Bankruptcy filed - October 2012, discharged - January 2013
Humberto Jesus Basoa 
Court Case:   12-34332
Chapter: 7, A chapter 7
( ... to keep certain "exempt" property; but a trustee will liquidate ...) §7
Filed: October 09, 2012
Discharged: January 16, 2013



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.