Gretchel Renee Aaron Colorado Springs Colorado

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Debtor: Aaron, Gretchel Renee - Colorado Springs, Colorado (CO)

Bankruptcy filed - December 2015, discharged - March 2016
Court Case: 16-10001 (Colorado Bankruptcy Court)
Chapter: 7, A chapter 7 ... and mortgages that pledge the property to other creditors. ... §7
Filed: December 31, 2015
Discharged: March 30, 2016

Gretchel Renee Aaron   Address: 5317 Grantsville Grove Colorado Springs, 80922-2957 Colorado

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.