Karen Has Filed A Voluntary Petition For A Chapter 7 Proceeding The Total Value Of K 1302897

Karen has filed a voluntary petition for a Chapter 7 proceeding. The total value of Karen’s estate is $35,000. Ben, who is owed $18,000, has a security interest in property valued at $12,000. Lauren has an unsecured claim of $9,000, which is entitled to a priority of $2,000. The United States has a claim for income taxes of $7,000. Steve has an unsecured claim of $10,000 that was filed on time. Sarah has an unsecured claim of $17,000 that was filed on time. Wally has a claim of $14,000 that he filed late, even though Wally was aware of the bankruptcy proceedings. What should each of the creditors receive in a distribution under Chapter 7?

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