Rose M Abandola Wurtsboro New York

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Debtor: Abandola, Rose M - Wurtsboro, New York (NY)

Bankruptcy filed - June 2013, discharged - September 2013
Court Case: 13-36492 (New York Bankruptcy Court)
Chapter: 7, A chapter 7 ... Code. Part of the debtor's property may be ... §7
Filed: June 25, 2013
Discharged: September 29, 2013

Rose M Abandola   Address: 24 Lindberg Avenue Wurtsboro, 12790 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.