personal-bankruptc

Bankruptcy Database

Michael J Delozier - Royal Oak, Michigan

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Delozier, Michael J - Royal Oak, Michigan (Court Case:14-48221)

Bankruptcy filed - May 2014, discharged - August 2014
Michael J Delozier 
Court Case:   14-48221
Chapter: 7, A chapter 7
( ... Code. Part of the debtor's property may be subject to liens and ...) §7
Filed: May 11, 2014
Discharged: August 09, 2014



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.