Tiffany Aaron Tipton Missouri

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Debtor: Aaron, Tiffany - Tipton, Missouri (MO)

Bankruptcy filed - May 2010, discharged - August 2010
Court Case: 10-21090 (Missouri Bankruptcy Court)
Chapter: 7, A chapter 7 ... keep certain "exempt" property; but a trustee will ... §7
Filed: May 19, 2010
Discharged: August 18, 2010

Tiffany Aaron   Address: 796 South Fork Lane Tipton, 65081 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.