personal-bankruptc

Bankruptcy Database

Dan Wilburn Brown - Tunnel Hill, Georgia

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Brown, Dan Wilburn - Tunnel Hill, Georgia (Court Case:1:11-bk-16567)

Bankruptcy filed - November 2011, discharged - March 2012
Dan Wilburn Brown 
Court Case:   1:11-bk-16567
Chapter: 7, A chapter 7
( ... debtor's nonexempt assets and uses the proceeds of such ...) §7
Filed: November 27, 2011
Discharged: March 21, 2012



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.