personal-bankruptc

Bankruptcy Database

Tonya Renee Favello - Norcross, Georgia

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Favello, Tonya Renee - Norcross, Georgia (Court Case:13-56443)

Bankruptcy filed - March 2013, discharged - July 2013
Tonya Renee Favello 
Court Case:   13-56443
Chapter: 7, A chapter 7
( ... assets and uses the proceeds of such assets to ...) §7
Filed: March 24, 2013
Discharged: July 02, 2013



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.