Course Category: Statement of Intent

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BK 111: Statement of Intention

Statement of Intention. Every Chapter 7 debtor must file a statement of intention with respect to the retention or surrender of property securing a creditor’s interest.  11 U.S.C. § 521(a)(2).  For any encumbered asset debtor intends to retain, the debtor must state whether the debtor intends to reaffirm the debt…