Jake Gregory Aarreberg South Bend Indiana

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Debtor: Aarreberg, Jake Gregory - South Bend, Indiana (IN)

Bankruptcy filed - December 2011, discharged - March 2012
Court Case: 11-34581 (Indiana Bankruptcy Court)
Chapter: 7, A chapter 7 ... certain "exempt" property; but a trustee will liquidate the debtor's ... §7
Filed: December 10, 2011
Discharged: March 15, 2012

Jake Gregory Aarreberg   Address: 1210 College Street South Bend, 46628 Indiana

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.