Margaret Abadie Cape May New Jersey

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Debtor: Abadie, Margaret - Cape May, New Jersey (NJ)

Bankruptcy filed - June 2013, discharged - September 2013
Court Case: 13-23659 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... potential debtors should realize that the filing of a ... §7
Filed: June 19, 2013
Discharged: September 26, 2013

Margaret Abadie   Address: 3910 Bayshore Road Apartment B9 Cape May, 08204 New Jersey

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.