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Jacqueline Shelton Bell - Old Fort, North Carolina

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Debtor:

ᐅ Bell, Jacqueline Shelton - Old Fort, North Carolina (Court Case:14-40554)

Bankruptcy filed - November 2014, discharged - February 2015
Jacqueline Shelton Bell 
Court Case:   14-40554
Chapter: 7, A chapter 7
( ... claims (creditors) in accordance with the provisions of ...) §7
Filed: November 30, 2014
Discharged: February 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.