Elizabeth D Aadland Scottsdale Arizona

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Debtor: Aadland, Elizabeth D - Scottsdale, Arizona (AZ)

Bankruptcy filed - September 2015, discharged - January 2016
Court Case: 2:15-bk-12009-PS (Arizona Bankruptcy Court)
Chapter: 7, A chapter 7 ... case does not involve the filing of a plan of ... §7
Filed: September 17, 2015
Discharged: January 04, 2016

Elizabeth D Aadland   Address: 8420 East Crestwood Way Scottsdale, 85250-6702 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.