Sharon Sue Aarons Arlington Texas

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Aarons, Sharon Sue - Arlington, Texas (TX)

Bankruptcy filed - April 2011, discharged - July 2011
Court Case: 11-42030 (Texas Bankruptcy Court)
Chapter: 7, A chapter 7 ... "exempt" property; but a trustee will liquidate the debtor's ... §7
Filed: April 03, 2011
Discharged: July 08, 2011

Sharon Sue Aarons Texas  
Address: 1203 Woodland West Drive Apartment 161 Arlington , 76013 Texas

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.