Zuleka Abakoyas Bronx New York

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Debtor: Abakoyas, Zuleka - Bronx, New York (NY)

Bankruptcy filed - April 2010, discharged - August 2010
Court Case: 10-11990 (New York Bankruptcy Court)
Chapter: 7, A chapter 7 ... not involve the filing of a plan of repayment as in ... §7
Filed: April 14, 2010
Discharged: August 04, 2010

Zuleka Abakoyas   Address: 2475 Southern Boulevard Apartment 12L Bronx, 10458 New York

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.