Vanessa Louise Abad Fayetteville North Carolina

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Debtor: Abad, Vanessa Louise - Fayetteville, North Carolina (NC)

Bankruptcy filed - March 2011, discharged - July 2011
Court Case: 11-02390-8 (North Carolina Bankruptcy Court)
Chapter: 7, A chapter 7 ... (creditors) in accordance with the provisions of the Bankruptcy ... §7
Filed: March 28, 2011
Discharged: July 21, 2011

Vanessa Louise Abad   Address: 555 Winding Creek Road Apartment B Fayetteville, 28305 North Carolina

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.