Donald Aardahl Muscoda Wisconsin

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Debtor: Aardahl, Donald - Muscoda, Wisconsin (WI)

Bankruptcy filed - September 2010, discharged - December 2010
Court Case: 3-10-16884 (Wisconsin Bankruptcy Court)
Chapter: 7, A chapter 7 ... claims (creditors) in accordance with the provisions of ... §7
Filed: September 14, 2010
Discharged: December 25, 2010

Donald Aardahl   Address: 578 West Pine Road Muscoda, 53573 Wisconsin

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.