Sarah Nicole Abair Plymouth Indiana

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Debtor: Abair, Sarah Nicole - Plymouth, Indiana (IN)

Bankruptcy filed - March 2011, discharged - June 2011
Court Case: 11-30754 (Indiana Bankruptcy Court)
Chapter: 7, A chapter 7 ... with the provisions of the Bankruptcy Code. Part of ... §7
Filed: March 09, 2011
Discharged: June 05, 2011

Sarah Nicole Abair   Address: 16377 12B Road Plymouth, 46563 Indiana

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.