Jr Darrell Cornilous Aaron Kansas City Missouri

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Debtor: Aaron, Jr Darrell Cornilous - Kansas City, Missouri (MO)

Bankruptcy filed - January 2014, discharged - April 2014
Court Case: 14-40059 (Missouri Bankruptcy Court)
Chapter: 7, A chapter 7 ... the filing of a plan of repayment as in ... §7
Filed: January 08, 2014
Discharged: April 08, 2014

Jr Darrell Cornilous Aaron   Address: 6741 Northeast 39th Street Kansas City, 64117-7809 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.