Kimberly Kay Aamodt Austin Texas

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Debtor: Aamodt, Kimberly Kay - Austin, Texas (TX)

Bankruptcy filed - February 2016, discharged - May 2016
Court Case: 16-10223 (Texas Bankruptcy Court)
Chapter: 7, A chapter 7 ... plan of repayment as in chapter 13. ... §7
Filed: February 27, 2016
Discharged: May 27, 2016

Kimberly Kay Aamodt   Address: 7000 Convict Hill Road Apartment 1102 Austin, 78749-1706 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.