Carolina Abadia West Palm Beach Florida

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Debtor: Abadia, Carolina - West Palm Beach, Florida (FL)

Bankruptcy filed - February 2010, discharged - May 2010
Court Case: 10-14232 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... case does not involve the filing of a plan ... §7
Filed: February 21, 2010
Discharged: May 27, 2010

Carolina Abadia   Address: 12525 54th Street North West Palm Beach, 33411 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.