Herve Abalele Atlanta Georgia

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Debtor: Abalele, Herve - Atlanta, Georgia (GA)

Bankruptcy filed - September 2009, discharged - January 2010
Court Case: 09-85475 (Georgia Bankruptcy Court)
Chapter: 7, A chapter 7 ... liquidate the debtor's remaining assets. Accordingly, potential debtors should ... §7
Filed: September 28, 2009
Discharged: January 11, 2010

Herve Abalele   Address: 821 Pinhurst Drive Atlanta, 30339 Georgia

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.