personal-bankruptc

Bankruptcy Database

Robert Butcher - Lake Orion, Michigan

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Butcher, Robert - Lake Orion, Michigan (Court Case:11-64064)

Bankruptcy filed - September 2011, discharged - December 2011
Robert Butcher 
Court Case:   11-64064
Chapter: 7, A chapter 7
( ... plan of repayment as in chapter 13. Instead, the bankruptcy ...) §7
Filed: September 09, 2011
Discharged: December 14, 2011



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.