A Chapter 7 case begins when the debtor files a Chapter 7 petition in the clerk's office of the appropriate bankruptcy court. Shortly after filing the petition, the debtor must file schedules, which, among other matters, will detail the debtor's income, expenses, assets, and liabilities.
Also, with respect to secured consumer debts, the debtor must, within 30 days of filing the petition, file a statement of intention in which the debtor notes his or her plans for any assets that serve as collateral (e.g., whether the debtor plans to keep the collateral and continue to make payments to the creditor or to turn the collateral over to the creditor). The schedules and statement of intention are public records and, therefore, may be examined and copied by creditors.
RSS
A Chapter 7 case begins when the debtor files a Chapter 7 petition in the clerk's office of the appropriate bankruptcy court. Shortly after filing the petition, the debtor must file schedules, which, among other matters, will detail the debtor's income, expenses, assets, and liabilities.
Also, with respect to secured consumer debts, the debtor must, within 30 days of filing the petition, file a statement of intention in which the debtor notes his or her plans for any assets that serve as collateral (e.g., whether the debtor plans to keep the collateral and continue to make payments to the creditor or to turn the collateral over to the creditor). The schedules and statement of intention are public records and, therefore, may be examined and copied by creditors.