statement of intention

statement of intention. Bankruptcy. A preliminary statement filed by the debtor in a Chapter 7 case, in which the debtor details whether property secured by consumer debt will be retained or surrendered and whether the property is claimed as exempt. • The statement usu. must be filed before the first creditors’ meeting or within 30 days from the petition-filing date, whichever is earlier. 11 USCA § 521. [Cases: Bankruptcy 2851, 3022, 3034, 3415.

1. C.J.S. Bankruptcy §§ 111–112, 191, 246–247.]

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