Donald Franklin Aarnes Pueblo West Colorado

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Debtor: Aarnes, Donald Franklin - Pueblo West, Colorado (CO)

Bankruptcy filed - July 2014, discharged - October 2014
Court Case: 14-19343 (Colorado Bankruptcy Court)
Chapter: 7, A chapter 7 ... in accordance with the provisions of the ... §7
Filed: July 06, 2014
Discharged: October 19, 2014

Donald Franklin Aarnes   Address: 484 West Archer Drive Pueblo West, 81007-2824 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.