Omar Abadia West Palm Beach Florida

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

Bankruptcy filed - May 2013, discharged - September 2013
Court Case: 13-22408 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... will liquidate the debtor's remaining assets. Accordingly, potential debtors should ... §7
Filed: May 27, 2013
Discharged: September 03, 2013

Omar 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.