Jereme D Aaron Jasper Alabama

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Debtor: Aaron, Jereme D - Jasper, Alabama (AL)

Bankruptcy filed - February 2011, discharged - May 2011
Court Case: 11-70324 (Alabama Bankruptcy Court)
Chapter: 7, A chapter 7 ... "exempt" property; but a trustee will liquidate the debtor's remaining ... §7
Filed: February 17, 2011
Discharged: May 21, 2011

Jereme D Aaron   Address: 637 Street Road Jasper, 35504 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.