Jenifer Aaronson Long Beach California

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Debtor: Aaronson, Jenifer - Long Beach, California (CA)

Bankruptcy filed - July 2010, discharged - November 2010
Court Case: 2:10-bk-39981-BR (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... Instead, the bankruptcy trustee gathers and sells the ... §7
Filed: July 20, 2010
Discharged: November 22, 2010

Jenifer Aaronson   Address: 3112 Ostrom Avenue Long Beach, 90808 California

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.