The Statement of Intention
The Statement of Intention is a written statement drafted by your bankruptcy attorney and filed without 30 days of filing your bankruptcy petition or before the creditors’ meeting, if that should be scheduled inside the 30-day period.
The statement must advise as to whether you intend to keep secured assets or surrender them to your creditors.
After the statement is filed, you have 45 days to act on the plans set forth in your statement and either surrender the property or make payment.
A Chapter 7 bankruptcy lawyer will be able to answer more questions about the Statement of Intention and the other parts of the Chapter 7 bankruptcy process.
Talk to a Chapter 7 Bankruptcy Lawyer for Free
Fill out the above free bankruptcy case review form and connect with a Chapter 7 bankruptcy lawyer for free.
A bankruptcy attorney can explain the Chapter 7 bankruptcy process and help you determine if it’s right for you.
Take the first step and fill out the form today.
Note: The above summary is not legal advice. Chapter 7 bankruptcy laws may have changed since our last update. For the latest information on Chapter 7 bankruptcy laws, speak to a local Chapter 7 bankruptcy lawyer in your state.