Robert Alan Abacan Joint Base Lewis Mcchord Washington

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Debtor: Abacan, Robert Alan - Joint Base Lewis Mcchord, Washington (WA)

Bankruptcy filed - January 2011, discharged - April 2011
Court Case: 11-40053 (Washington Bankruptcy Court)
Chapter: 7, A chapter 7 ... claims (creditors) in accordance with the ... §7
Filed: January 04, 2011
Discharged: April 12, 2011

Robert Alan Abacan   Address: 7214 Colter Avenue Apartment B Joint Base Lewis Mcchord, 98433-1949 Washington

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.