Amparo Abadia Elizabeth New Jersey

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Debtor: Abadia, Amparo - Elizabeth, New Jersey (NJ)

Bankruptcy filed - February 2014, discharged - May 2014
Court Case: 14-12890 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... accordance with the provisions of the Bankruptcy Code. Part of the debtor's ... §7
Filed: February 18, 2014
Discharged: May 19, 2014

Amparo Abadia   Address: 555 South Broad Street Apartment A1 Elizabeth, 07202-3527 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.