Linda R Abagnale Riverside New Jersey

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Debtor: Abagnale, Linda R - Riverside, New Jersey (NJ)

Bankruptcy filed - December 2012, discharged - March 2013
Court Case: 12-38441 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... bankruptcy trustee gathers and sells the debtor's nonexempt ... §7
Filed: December 03, 2012
Discharged: March 10, 2013

Linda R Abagnale   Address: 3001 Route 130 Apartment 76A Riverside, 08075 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.