Statement of Intention [Bankruptcy] Law and Legal Definition

Statement of intention is a declaration filed by a debtor in a chapter 7 bankruptcy case. A statement of intention is filed prior to the meeting of the creditors. It is a document that discloses the details of secured debt that a debtor intends to reaffirm. When a debtor reaffirms a debt, it is omitted from discharge. It also provides details of the properties the debtor intent to surrender and retain in a bankruptcy case. It contains a plan about the method to deal with consumer debts that are secured by property of an estate. A statement of intention is not required in Chapter 13 bankruptcy cases.