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created at

2026-01-28 03:25:55

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Sacramento Bankruptcy Lawyer | Blog

excerpt

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Mark Shmorgon on Google+Blog Page was last modified: August 19th, 2014 by Mark Shmorgon March 05, 2014 Mark Shmorgon News Statement of intention chapter 7 Statement of intention for chapter 7 Every Chapter 7 liquidation bankruptcy has a statement of intention that must be filled out.  The statement of intent applies only to secured debts.  For example a mortgage, a car payment, or even furniture purchased on store credit.  The basic premise of any secured debt is that if a debtor wants to keep the asset he or she must continue to pay for it; otherwise the collateral (home, car, or furniture) must be surrendered. The terminology under the bankruptcy code can seem very religious at times and often hard to understand.  For example, suppose you purchased a Kia Soul from Satan Motors and then filed for bankruptcy.  You essentially have three choices ...

author

AitThemes.com, http://www.ait-themes.com

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