Thomas Henry Abalan Tualatin Oregon

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Debtor: Abalan, Thomas Henry - Tualatin, Oregon (OR)

Bankruptcy filed - June 2011, discharged - September 2011
Court Case: 11-34997 (Oregon Bankruptcy Court)
Chapter: 7, A chapter 7 ... pay holders of claims (creditors) in accordance with ... §7
Filed: June 06, 2011
Discharged: September 22, 2011

Thomas Henry Abalan   Address: 8900 Southwest Sweek Drive Apartment 1722 Tualatin, 97062-7530 Oregon

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.