George Vladimirov Abadjiev Las Vegas Nevada

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Debtor: Abadjiev, George Vladimirov - Las Vegas, Nevada (NV)

Bankruptcy filed - January 2012, discharged - April 2012
Court Case: 12-10382 (Nevada Bankruptcy Court)
Chapter: 7, A chapter 7 ... the debtor's nonexempt assets and uses the ... §7
Filed: January 12, 2012
Discharged: April 15, 2012

George Vladimirov Abadjiev   Address: 12048 La Palmera Avenue Las Vegas, 89138-2007 Nevada

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.