Scott C Aaenson Marysville Washington

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Debtor: Aaenson, Scott C - Marysville, Washington (WA)

Bankruptcy filed - November 2014, discharged - February 2015
Court Case: 14-18508 (Washington Bankruptcy Court)
Chapter: 7, A chapter 7 ... as in chapter 13. Instead, the bankruptcy trustee gathers and sells ... §7
Filed: November 20, 2014
Discharged: February 18, 2015

Scott C Aaenson   Address: 2731 74th Drive Northeast Marysville, 98270-6809 Washington

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.