Zoila Abad West New York New Jersey

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Debtor: Abad, Zoila - West New York, New Jersey (NJ)

Bankruptcy filed - March 2015, discharged - June 2015
Court Case: 15-15236 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... of claims (creditors) in accordance with ... §7
Filed: March 24, 2015
Discharged: June 22, 2015

Zoila Abad   Address: 5806 Park Avenue Apartment 3F West New York, 07093-3647 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.