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Christopher David Barnaby - New Carlisle, Indiana

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Debtor:

ᐅ Barnaby, Christopher David - New Carlisle, Indiana (Court Case:13-32336)

Bankruptcy filed - August 2013, discharged - November 2013
Christopher David Barnaby 
Court Case:   13-32336
Chapter: 7, A chapter 7
( ... the provisions of the Bankruptcy Code. Part of the debtor's property may ...) §7
Filed: August 10, 2013
Discharged: November 14, 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.