Stephanie Aaron Northridge California

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Debtor: Aaron, Stephanie - Northridge, California (CA)

Bankruptcy filed - June 2015, discharged - September 2015
Court Case: 1:15-bk-12028-MT (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... certain "exempt" property; but a trustee will liquidate ... §7
Filed: June 09, 2015
Discharged: September 07, 2015

Stephanie Aaron   Address: 8624 Reseda Boulevard Northridge, 91324-4032 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.