personal-bankruptc

Bankruptcy Database

Iii Dennis Murrell Cole - Cary, North Carolina

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Debtor:

ᐅ Cole, Iii Dennis Murrell - Cary, North Carolina (Court Case:13-05883-8)

Bankruptcy filed - September 2013, discharged - December 2013
Iii Dennis Murrell Cole 
Court Case:   13-05883-8
Chapter: 7, A chapter 7
( ... may be subject to liens and mortgages that pledge the property to ...) §7
Filed: September 17, 2013
Discharged: December 22, 2013



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.