Statement of Intention
- A written declaration provided by a debtor before a meeting with creditors in a Chapter 7 bankruptcy case, detailing which assets they plan to give up and keep
- Before the upcoming meeting, the debtor prepared his Statement of Intention to outline which assets will be kept and which will be surrendered.
- The Chapter 7 bankruptcy case could not proceed until the debtor filed the Statement of Intention to declare his asset plans.
- The Statement of Intention clarified for all parties involved in the bankruptcy case what property the debtor intends to surrender.
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