Leanne M Aaronson Pennsauken New Jersey

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Debtor: Aaronson, Leanne M - Pennsauken, New Jersey (NJ)

Bankruptcy filed - November 2014, discharged - February 2015
Court Case: 14-33628 (New Jersey Bankruptcy Court)
Chapter: 7, A chapter 7 ... proceeds of such assets to pay holders of ... §7
Filed: November 19, 2014
Discharged: February 17, 2015

Leanne M Aaronson   Address: 4263 Terrace Avenue Pennsauken, 08109-1627 New Jersey

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.