Andrew Arnold Aardahl Tumwater Washington

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Debtor: Aardahl, Andrew Arnold - Tumwater, Washington (WA)

Bankruptcy filed - July 2014, discharged - October 2014
Court Case: 2014-44176 (Washington Bankruptcy Court)
Chapter: 7, A chapter 7 ... filing of a plan of repayment as in ... §7
Filed: July 29, 2014
Discharged: October 27, 2014

Andrew Arnold Aardahl   Address: 872 G Street Southwest Tumwater, 98512-4601 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.