Clay Robert Abajian Las Vegas Nevada

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Debtor: Abajian, Clay Robert - Las Vegas, Nevada (NV)

Bankruptcy filed - November 2011, discharged - February 2012
Court Case: 11-28211 (Nevada Bankruptcy Court)
Chapter: 7, A chapter 7 ... a plan of repayment as in chapter 13. Instead, the ... §7
Filed: November 22, 2011
Discharged: February 26, 2012

Clay Robert Abajian   Address: 8720 James Raul Avenue Las Vegas, 89143-2319 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.