Statement of Intention for Individuals Filing Under Chapter 7 (Official Form 108)

What you plan to do with your secured debts:

B 108 Statement of Intention for Individuals Filing Under Chapter 7

If you are filing under chapter 11, 12, or 13, do not fill out this form. 

If you are an individual filing under chapter 7, you must fill out the Statement of Intention for Individuals Filing Under Chapter 7 (Official Form 108) if 

creditors have claims secured by your property, or  

you have leased personal property and the lease has not expired.   

The Bankruptcy Code requires you to state your intentions about such claims and provides for early termination of the automatic stay as to personal property if the statement is not timely filed. The same early termination of the automatic stay applies to any unexpired lease of personal property unless you state that you intend to assume the unexpired lease if the trustee does not do so.  

To help fill out this form, use the information you have already provided on the following forms:  

Schedule D: Creditors Who Have Claims Secured by Property (Official Form 106D),

Schedule C: The Property You Claim as Exempt (Official Form 106C), and  

Schedule G: Executory Contracts and Unexpired Leases (Official Form 106G).   

Explain what you intend to do with your property that is collateral for a claim  

If you have property that is collateral (or security) for a claim, you must state what you intend to do with that property.  

You may choose either to surrender the property to the creditor, or retain the property. Below is more information about each of these options.  

You may surrender the property to the creditor. If you surrender the property to the creditor, your bankruptcy discharge will protect you from any claim for the difference between what you owe the creditor and what the creditor receives from a sale of the property, unless the court determines that the debt is nondischargeable.  

You may want to retain the property. If you want to retain your secured personal property, you may be able to reaffirm the debt, redeem the property, or take other action (for example, avoid a lien using 11 U.S.C. § 522(f)).  

You may be able to reaffirm the debt. You may decide to remain legally obligated to pay a debt so that you can keep the property securing the debt. This is called reaffirming a debt. You may reaffirm the debt in full on its original terms or you and the creditor may agree to change the terms. For example, if you want to keep your car, you may reaffirm a car loan, stating that you will continue to make monthly payments for it. Only reaffirm those debts that you are confident you can repay. You may seek to reaffirm the debt if you sign a Reaffirmation Agreement, which is a contract between you and a creditor, and   you follow the proper procedure for the Reaffirmation Agreement. 11 U.S.C. § 524. The procedure is explained in greater detail in the Disclosures that are part of the reaffirmation documents.  

You may be able to redeem your property. 11 U.S.C. § 722. You can redeem property only if all of the following apply:  

The property secures a debt that is a consumer debt ─ you incurred the debt primarily for personal, family, or household use.  

The property is tangible personal property ─ the property is physical, such as furniture, appliances, and cars.  

You are either claiming the property as exempt or the trustee has abandoned it.  

To obtain court authorization to redeem your property, you must file a motion with the court. If the court grants your motion, you pay the creditor the value of the property or the amount of the claim, whichever is less. The payment will be a single lump-sum payment.  

Explain what you intend to do with your leased personal property  

If you lease personal property such as your car, you may be able to continue your lease if the trustee does not assume the lease. To continue your lease, you can write to the lessor that you want to assume your lease. The creditor may, at its option, notify you that it is willing to have you assume the lease and may condition the assumption on cure of any outstanding default. If the lessor notifies you that it is willing to have you assume the lease, you must write to the lessor within 30 days stating that you assume the lease. 11 U.S.C. § 365(p)(2).  

File the Statement of Intention before the deadline  

You must file this form either within 30 days after you file your bankruptcy petition or by the date set for the meeting of creditors, whichever is earlier. You must also deliver copies of this statement to the creditors and lessors you listed on the form. Bankruptcy Rule 1007(b)(2).  

If two married people are filing together in a joint case, both are equally responsible for supplying correct information. Both debtors must sign and date the form.



Official Form 108, Statement of Intention for Individuals Filing Under Chapter 7, is revised in its entirety as part of the Forms Modernization Project, making it easier to read and, as a result, likely to generate more complete and accurate responses. In addition, the form is renumbered, and stylistic changes are made throughout the form.

The form is derived from former Official Form 8, Chapter 7 - Individual Debtor’s Statement of Intention. The new form uses language likely to be understandable to non-lawyers. In addition, the instructions are more extensive, advising an individual Chapter 7 debtor that the form must be completed and filed within 30 days and that the debtor must deliver copies of the form to creditors and lessors listed on the form.

Part 1, List Your Creditors Who Have Secured Claims, refers to entering into a “Reaffirmation Agreement” rather than asking whether the debtor intends to “reaffirm the debt.” In addition, the debtor is asked if the property is claimed as exempt on Schedule C (Official Form 106C).

Part 2, List Your Unexpired Personal Property Leases, defines unexpired leases and explains that a debtor may assume an unexpired personal property lease if the trustee does not assume it.  


Jurisdictional relevance: US

Legal Consumer - Bakersfield, CALaw. The content of this article pertains to all US states and counties.