personal-bankruptc

Bankruptcy Database

Lois Irene Davis - Spring Hill, Florida

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Davis, Lois Irene - Spring Hill, Florida (Court Case:07-66597)

Bankruptcy filed - April 2007, discharged - August 2007
Lois Irene Davis 
Court Case:   07-66597
Chapter: 7, A chapter 7
( ... other creditors. In addition, the Bankruptcy Code ...) §7
Filed: April 26, 2007
Discharged: August 12, 2007



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.