Osborn Jr Clinton A Flemington New Jersey

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Debtor: A, Osborn Jr Clinton - Flemington, New Jersey (NJ)

Bankruptcy filed - June 2010, discharged - October 2010
Court Case: 10-29426 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... the Bankruptcy Code. Part of the debtor's property may be subject ... §7
Filed: June 23, 2010
Discharged: October 13, 2010

Osborn Jr Clinton A   Address: 1105 Wheatfield Court Flemington, 08822 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.