Nathan Aagesen Kansas City Missouri

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Debtor: Aagesen, Nathan - Kansas City, Missouri (MO)

Bankruptcy filed - September 2010, discharged - December 2010
Court Case: 10-44763 (Missouri Bankruptcy Court)
Chapter: 7, A chapter 7 ... and uses the proceeds of such assets to pay holders ... §7
Filed: September 02, 2010
Discharged: December 11, 2010

Nathan Aagesen   Address: 130 Spruce Avenue Kansas City, 64123 Missouri

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.