Charles Leroy Aaron Dewitt Michigan

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Debtor: Aaron, Charles Leroy - Dewitt, Michigan (MI)

Bankruptcy filed - October 2015, discharged - January 2016
Court Case: 15-05697 (Michigan Bankruptcy Court)
Chapter: 7, A chapter 7 ... be subject to liens and mortgages that pledge the ... §7
Filed: October 14, 2015
Discharged: January 12, 2016

Charles Leroy Aaron   Address: 407 Wanilla Lane Dewitt, 48820-8740 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.