Lori Ann Aaron Boynton Beach Florida

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Debtor: Aaron, Lori Ann - Boynton Beach, Florida (FL)

Bankruptcy filed - November 2007, discharged - February 2008
Court Case: 07-19572 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... of such assets to pay holders of claims (creditors) in accordance with ... §7
Filed: November 01, 2007
Discharged: February 24, 2008

Lori Ann Aaron   Address: 8470 South Mizzen Drive Boynton Beach, 33472 Florida

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.