Alta Lavelle Aaron Phoenix Arizona

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Debtor: Aaron, Alta Lavelle - Phoenix, Arizona (AZ)

Bankruptcy filed - June 2016, discharged - September 2016
Court Case: 2:16-bk-06515-PS (Arizona Bankruptcy Court)
Chapter: 7, A chapter 7 ... involve the filing of a plan of ... §7
Filed: June 07, 2016
Discharged: September 05, 2016

Alta Lavelle Aaron   Address: 8249 West Flower Street Phoenix, 85033-4745 Arizona

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.