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Iii Oakley Curtis Brown - Port Saint Lucie, Florida

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Debtor:

ᐅ Brown, Iii Oakley Curtis - Port Saint Lucie, Florida (Court Case:08-26310)

Bankruptcy filed - October 2008, discharged - February 2009
Iii Oakley Curtis Brown 
Court Case:   08-26310
Chapter: 7, A chapter 7
( ... uses the proceeds of such assets to pay holders of ...) §7
Filed: October 29, 2008
Discharged: February 21, 2009



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.