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Kimberly Marie Applegate - New Port Richey, Florida

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Debtor:

ᐅ Applegate, Kimberly Marie - New Port Richey, Florida (Court Case:8:07-bk-12533)

Bankruptcy filed - December 2007, discharged - March 2008
Kimberly Marie Applegate 
Court Case:   8:07-bk-12533
Chapter: 7, A chapter 7
( ... the provisions of the Bankruptcy Code. ...) §7
Filed: December 18, 2007
Discharged: March 30, 2008



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.