Caleb L Abad Catoosa Oklahoma

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Debtor: Abad, Caleb L - Catoosa, Oklahoma (OK)

Bankruptcy filed - March 2016, discharged - June 2016
Court Case: 16-80278 (Oklahoma Bankruptcy Court)
Chapter: 7, A chapter 7 ... the Bankruptcy Code. Part of the debtor's property ... §7
Filed: March 12, 2016
Discharged: June 10, 2016

Caleb L Abad   Address: 20214 East Admiral Place Apartment 714 Catoosa, 74015-3262 Oklahoma

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.