Rodriguez Nestor Jose Aballe London Kentucky

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Debtor: Aballe, Rodriguez Nestor Jose - London, Kentucky (KY)

Bankruptcy filed - May 2016, discharged - August 2016
Court Case: 16-60619 (Kentucky Bankruptcy Court)
Chapter: 7, A chapter 7 ... keep certain "exempt" property; but a trustee will liquidate the debtor's remaining ... §7
Filed: May 19, 2016
Discharged: August 17, 2016

Rodriguez Nestor Jose Aballe   Address: 2996 Maple Grove Road Apartment 1 London, 40744-8945 Kentucky

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.