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Machelle Ann Christofferson - Salt Lake City, Utah

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Debtor:

ᐅ Christofferson, Machelle Ann - Salt Lake City, Utah (Court Case:16-26165)

Bankruptcy filed - July 2016, discharged - October 2016
Machelle Ann Christofferson 
Court Case:   16-26165
Chapter: 7, A chapter 7
( ... proceeds of such assets to pay holders of claims (creditors) in ...) §7
Filed: July 13, 2016
Discharged: October 11, 2016



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.