Consumer Bankruptcy Journal Fall 2015

Form Modernization Overview Official Form 108 Overview: Official Form 108, Statement of Intention for Individuals Filing Under Chapter 7, is derived from former Official Form 8, Chapter 7 - Individual Debtor’s Statement of Intention. New Form Elements: 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.” 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. NEW - Modernized Form Caption. NEW – Amended filing checkbox. REVISED – Official Form 108, Statement of Intention for Individuals Filing Under Chapter 7, replaces Official Form 8, Chapter 7 Individual Debtor’s Statement of Intention. REVISED – Language in Part 1 has been revised to include Reaffirmation Agreement as an intention for a secured property. © 2015 CINgroup. All Rights Reserved | CINgroup.com

Consumer Bankruptcy Journal Fall 2015 | Page 114