Gail Ann Aagaard Angier North Carolina

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Debtor: Aagaard, Gail Ann - Angier, North Carolina (NC)

Bankruptcy filed - November 2015, discharged - February 2016
Court Case: 3-15-13971 (North Carolina Bankruptcy Court)
Chapter: 7, A chapter 7 ... uses the proceeds of such assets to pay ... §7
Filed: November 03, 2015
Discharged: February 01, 2016

Gail Ann Aagaard   Address: 252 Cross Link Drive Angier, 27501-5850 North Carolina

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.