Kandace W Aarons Louisville Kentucky

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Debtor: Aarons, Kandace W - Louisville, Kentucky (KY)

Bankruptcy filed - March 2015, discharged - June 2015
Court Case: 15-30911 (Kentucky Bankruptcy Court)
Chapter: 7, A chapter 7 ... of such assets to pay holders of claims ... §7
Filed: March 20, 2015
Discharged: June 18, 2015

Kandace W Aarons   Address: 1100 Saint Michael Place Louisville, 40204-1920 Kentucky

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.