Debra Denise Aaron Crossville Alabama

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Debtor: Aaron, Debra Denise - Crossville, Alabama (AL)

Bankruptcy filed - December 2014, discharged - March 2015
Court Case: 14-41936 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... debtor's nonexempt assets and uses the ... §7
Filed: December 14, 2014
Discharged: March 14, 2015

Debra Denise Aaron   Address: PO Box 213 Crossville, 35962-0213 Alabama

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.