Negib Abadir District Heights Maryland

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Debtor: Abadir, Negib - District Heights, Maryland (MD)

Bankruptcy filed - April 2012, discharged - August 2012
Court Case: 12-17813 (Maryland Bankruptcy Court)
Chapter: 7, A chapter 7 ... "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, ... §7
Filed: April 25, 2012
Discharged: August 13, 2012

Negib Abadir   Address: 2814 Viceroy Avenue District Heights, 20747 Maryland

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.