Toya Antoinette Aaron Romulus Michigan

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Debtor: Aaron, Toya Antoinette - Romulus, Michigan (MI)

Bankruptcy filed - May 2016, discharged - August 2016
Court Case: 16-46838 (Michigan Bankruptcy Court)
Chapter: 7, A chapter 7 ... pledge the property to other creditors. In addition, the Bankruptcy Code will ... §7
Filed: May 03, 2016
Discharged: August 01, 2016

Toya Antoinette Aaron   Address: 29225 Leroy Street Romulus, 48174-3011 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.