Linda Abair Port Charlotte Florida

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Debtor: Abair, Linda - Port Charlotte, Florida (FL)

Bankruptcy filed - June 2015, discharged - September 2015
Court Case: 15-50904 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... bankruptcy case does not involve the filing of ... §7
Filed: June 30, 2015
Discharged: September 28, 2015

Linda Abair   Address: 2102 Alaric Street Port Charlotte, 33952-4213 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.