Sara Ann Aadland Omaha Nebraska

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Debtor: Aadland, Sara Ann - Omaha, Nebraska (NE)

Bankruptcy filed - February 2013, discharged - May 2013
Court Case: 13-80243 (Nebraska Bankruptcy Court)
Chapter: 7, A chapter 7 ... of such assets to pay holders of claims ... §7
Filed: February 07, 2013
Discharged: May 15, 2013

Sara Ann Aadland   Address: 12112 Ohio Circle Omaha, 68164 Nebraska

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.