personal-bankruptc

Bankruptcy Database

David M Baker - Maple Grove, Minnesota

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Baker, David M - Maple Grove, Minnesota (Court Case:12-45076)

Bankruptcy filed - August 2012, discharged - November 2012
David M Baker 
Court Case:   12-45076
Chapter: 7, A chapter 7
( ... case does not involve the filing ...) §7
Filed: August 30, 2012
Discharged: November 29, 2012



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.