Sharon Watson Aaron Hanceville Alabama

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Debtor: Aaron, Sharon Watson - Hanceville, Alabama (AL)

Bankruptcy filed - February 2015, discharged - May 2015
Court Case: 15-80458 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... that the filing of a petition under ... §7
Filed: February 22, 2015
Discharged: May 23, 2015

Sharon Watson Aaron   Address: 2112 County Road 565 Hanceville, 35077-7914 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.