personal-bankruptc

Bankruptcy Database

William Kelly Cooney - Brookhaven, Mississippi

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Cooney, William Kelly - Brookhaven, Mississippi (Court Case:15-01737)

Bankruptcy filed - May 2015, discharged - August 2015
William Kelly Cooney 
Court Case:   15-01737
Chapter: 7, A chapter 7
( ... the debtor's remaining assets. Accordingly, potential debtors should ...) §7
Filed: May 30, 2015
Discharged: August 28, 2015



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.