Lucy Abadier Broadview Heights Ohio

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Debtor: Abadier, Lucy - Broadview Heights, Ohio (OH)

Bankruptcy filed - October 2009, discharged - February 2010
Court Case: 09-20297 (Ohio Bankruptcy Court)
Chapter: 7, A chapter 7 ... sells the debtor's nonexempt assets and uses ... §7
Filed: October 29, 2009
Discharged: February 03, 2010

Lucy Abadier   Address: 839 Beaver Ridge Trail Broadview Heights, 44147 Ohio

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.