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What is a statement of intention for individuals filing under Chapter 7 Form 108?
A statement of intention, also known as Official Form 108, is a bankruptcy form you must file with the court. The form tells your creditors what you intend to do with your secured debts, such as an auto loan, a mortgage, or a lease. You have many options with your statement of intentions.
What is a statement of intentions?
: a written statement filed by a debtor prior to the meeting of creditors in a chapter 7 bankruptcy case that indicates what property the debtor intends to surrender and retain.
What is a Chapter 7 statement of intention?
On the Statement of Intention for Individuals Filing Under Chapter 7 (Form 108), you tell the bankruptcy trustee and secured creditors what you intend to do with secured property and unexpired leases. By Cara ONeill, Attorney University of the Pacific McGeorge School of Law.
What would disqualify me from Chapter 7?
Documents Needed to File Chapter 7 Your tax returns. Pay stubs. Appraisals of your home, jewelry, and other exempt assets. Your car titles.
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