Karen Aaron Port Richey Florida

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Debtor: Aaron, Karen - Port Richey, Florida (FL)

Bankruptcy filed - October 2009, discharged - February 2010
Court Case: 8:09-bk-23934 (Florida Bankruptcy Court)
Chapter: 7, A chapter 7 ... of the Bankruptcy Code. Part of the debtor's property ... §7
Filed: October 21, 2009
Discharged: February 06, 2010

Karen Aaron   Address: 7820 Jasmine Boulevard Port Richey, 34668 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.