Reginald Aaron Detroit Michigan

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Debtor: Aaron, Reginald - Detroit, Michigan (MI)

Bankruptcy filed - February 2012, discharged - June 2012
Court Case: 12-44612 (Michigan Bankruptcy Court)
Chapter: 7, A chapter 7 ... repayment as in chapter 13. Instead, the bankruptcy trustee gathers and ... §7
Filed: February 27, 2012
Discharged: June 02, 2012

Reginald Aaron   Address: 19418 Waltham Street Detroit, 48205 Michigan

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.