Rolhando Aaron San Jose California

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Debtor: Aaron, Rolhando - San Jose, California (CA)

Bankruptcy filed - February 2010, discharged - May 2010
Court Case: 10-51964 (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... debtor's nonexempt assets and uses the proceeds of such ... §7
Filed: February 25, 2010
Discharged: May 31, 2010

Rolhando Aaron   Address: 1120 Ranchero Way Apartment 10 San Jose, 95117 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.