Solomon A Abanda Henrico Virginia

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Abanda, Solomon A - Henrico, Virginia (VA)

Bankruptcy filed - October 2014, discharged - January 2015
Court Case: 14-35712 (Virginia Bankruptcy Court)
Chapter: 7, A chapter 7 ... that pledge the property to other creditors. ... §7
Filed: October 23, 2014
Discharged: January 21, 2015

Solomon A Abanda Virginia  
Address: 1241 Gaskins Road Apartment D4 Henrico , 23238-5226 Virginia

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.