Michael Wayne Aaron Tunnel Hill Georgia

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Debtor: Aaron, Michael Wayne - Tunnel Hill, Georgia (GA)

Bankruptcy filed - August 2014, discharged - November 2014
Court Case: 14-42025 (Georgia Bankruptcy Court)
Chapter: 7, A chapter 7 ... bankruptcy trustee gathers and sells the ... §7
Filed: August 14, 2014
Discharged: November 12, 2014

Michael Wayne Aaron   Address: 47 Thomas Circle Tunnel Hill, 30755-7888 Georgia

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.