Paul Aaeng Denver Colorado

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Debtor: Aaeng, Paul - Denver, Colorado (CO)

Bankruptcy filed - January 2012, discharged - April 2012
Court Case: 12-10208 (Colorado Bankruptcy Court)
Chapter: 7, A chapter 7 ... and mortgages that pledge the property to other creditors. In addition, the ... §7
Filed: January 05, 2012
Discharged: April 07, 2012

Paul Aaeng   Address: PO Box 221667 Denver, 80222 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.