Jr James Aaron Tulare California

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Debtor: Aaron, Jr James - Tulare, California (CA)

Bankruptcy filed - April 2010, discharged - August 2010
Court Case: 10-14659 (California Bankruptcy Court)
Chapter: 7, A chapter 7 ... bankruptcy trustee gathers and sells the debtor's nonexempt assets ... §7
Filed: April 28, 2010
Discharged: August 04, 2010

Jr James Aaron   Address: 155 Johnson Street Tulare, 93274 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.