James T Abanatha Louisville Kentucky

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Debtor: Abanatha, James T - Louisville, Kentucky (KY)

Bankruptcy filed - July 2012, discharged - October 2012
Court Case: 12-33062 (Kentucky Bankruptcy Court)
Chapter: 7, A chapter 7 ... proceeds of such assets to pay holders of claims (creditors) in ... §7
Filed: July 01, 2012
Discharged: October 17, 2012

James T Abanatha   Address: 4800 White Ash Court Apartment 2 Louisville, 40229 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.