Tracy Christopher Aarons Chesapeake Beach Maryland

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Debtor: Aarons, Tracy Christopher - Chesapeake Beach, Maryland (MD)

Bankruptcy filed - April 2013, discharged - July 2013
Court Case: 13-15936 (Maryland Bankruptcy Court)
Chapter: 7, A chapter 7 ... of such assets to pay holders of claims ... §7
Filed: April 04, 2013
Discharged: July 15, 2013

Tracy Christopher Aarons   Address: 8094 Windward Key Drive Chesapeake Beach, 20732 Maryland

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.