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Richard Kent Burrows - Clarksburg, West Virginia

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Debtor:

ᐅ Burrows, Richard Kent - Clarksburg, West Virginia (Court Case:1:15-bk-00061)

Bankruptcy filed - January 2015, discharged - April 2015
Richard Kent Burrows 
Court Case:   1:15-bk-00061
Chapter: 7, A chapter 7
( ... accordance with the provisions of the Bankruptcy Code. ...) §7
Filed: January 27, 2015
Discharged: April 27, 2015



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.