Lynn Marie Aalfs Hutchinson Minnesota

7 Million Searchable Bankruptcy Files
Stop paying for leads!

Bankruptcy Database

A
B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Debtor: Aalfs, Lynn Marie - Hutchinson, Minnesota (MN)

Bankruptcy filed - October 2012, discharged - January 2013
Court Case: 12-45786 (Minnesota Bankruptcy Court)
Chapter: 7, A chapter 7 ... pledge the property to other creditors. In addition, the Bankruptcy ... §7
Filed: October 08, 2012
Discharged: January 07, 2013

Lynn Marie Aalfs   Address: 995 Hassan Street Southeast Hutchinson, 55350 Minnesota

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.