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Precious R Belton - Milwaukee, Wisconsin

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Debtor:

ᐅ Belton, Precious R - Milwaukee, Wisconsin (Court Case:12-30443)

Bankruptcy filed - July 2012, discharged - October 2012
Precious R Belton 
Court Case:   12-30443
Chapter: 7, A chapter 7
( ... that pledge the property to other creditors. In addition, ...) §7
Filed: July 10, 2012
Discharged: October 14, 2012



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.















Debtor:

ᐅ Belton, Precious R - Milwaukee, Wisconsin (Court Case:2014-25004)

Bankruptcy filed - April 2014, discharged - July 2014
Precious R Belton 
Court Case:   2014-25004
Chapter: 7, A chapter 7
( ... bankruptcy trustee gathers and sells the ...) §7
Filed: April 22, 2014
Discharged: July 21, 2014



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.