personal-bankruptc

Bankruptcy Database

Pridemore Susan Benson - Lake Orion, Michigan

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Benson, Pridemore Susan - Lake Orion, Michigan (Court Case:10-47243)

Bankruptcy filed - March 2010, discharged - June 2010
Pridemore Susan Benson 
Court Case:   10-47243
Chapter: 7, A chapter 7
( ... uses the proceeds of such assets to ...) §7
Filed: March 07, 2010
Discharged: June 11, 2010



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.