Form B-8 Chapter 7 Individual Debtor’s Statement of Intention
INSTRUCTIONS : INDIVIDUAL DEBTORS STATEMENT OF INTENT (Form B-8)
Form B-8, which is the Individual Debtors Statement of Intent, is a national form and can be used in General Bankruptcy filings. In most cases, this particular form consists of three pages and requires the individual filing for bankruptcy to affirm certain financial records to the particular bankruptcy court initiating the filing.
The first page of the form requires the debtor to first enter his name and case number; part A of the Form requires the individual filing for bankruptcy to list all debts secured by property of the estate. In this portion of the petition the filer will list his or her property, the creditor who issued money for the property and the type of debt secured by the individual. Next, the individual will check a box stating whether the underlying property will be surrendered or retained by the filer. If the filer chooses to retain the property he or she must then check whether they are redeeming the property, reaffirming the debt attached to the property or avoiding lien by initiating a financial maneuver. In addition to supplying this information, the individual will also be required to check whether the property is claimed as exempt or not claimed as exempt.
Part B of the Individual Debtors Statement of Intent requires the individual to list all personal property that is subject to unexpired leases. In this section the filer will list his or her name and describe the type of leased property. Once this information is entered, the individual must sign his or her name and date the document to affirm the financial information offered on the Individual Debtors Statement of Intent.