Laura Michele Aaron Las Vegas Nevada

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Debtor: Aaron, Laura Michele - Las Vegas, Nevada (NV)

Bankruptcy filed - January 2011, discharged - August 2011
Court Case: 11-11069 (Nevada Bankruptcy Court)
Chapter: 7, A chapter 7 ... of a plan of repayment as ... §7
Filed: January 25, 2011
Discharged: August 25, 2011

Laura Michele Aaron   Address: 4201 West Rochelle Avenue Apartment 1081 Las Vegas, 89103-3918 Nevada

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.