Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - What is the provisions of the Bankruptcy Code on chapter 7 bankruptcy information? - A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13 (also called a wage earner’s plan). Instead, the bankruptcy trustee gathers and sells the debtor’s non-exempt assets and uses the proceeds of such assets to pay holders of claims (or the creditors) in accordance with the provisions of the Bankruptcy Code.
That is quoted on the site of my source. Hope it helps. -
