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Official Form 108 must be filed within 30 days of your Chapter 7 petition or by the meeting of creditors, whichever is earlier. It tells the trustee and every secured creditor what you plan to do with each piece of secured personal property — reaffirm (stay liable on the debt), redeem (pay lump-sum current value), or surrender (return the collateral). 11 U.S.C. § 362(h)(1) sets what happens to the automatic stay if the statement or the stated action is late. You can read through the wizard now; it produces the document once its rules are reviewed by a licensed attorney.
The Statement of Intention (Form 108) template is waiting for a licensed attorney to review its rule data. Until then SynthCounsel does not produce this document, so answering the questions will not give you one.
You can still read through the questions to see what it asks and what to gather.
Within 30 days of your Chapter 7 petition, or before the § 341 meeting of creditors — whichever is earlier. Missing the deadline can cause the automatic stay to lift on the affected property.
Reaffirmation: you stay liable on the full balance and keep the collateral under a new agreement. Redemption (§ 722): you pay the creditor the current replacement value in a lump sum and discharge the rest. Redemption requires a one-time payment but eliminates deficiency risk.
No. Form 108 covers personal property and personal property leases only. Real estate mortgages are handled through other bankruptcy procedures.
The automatic stay terminates with respect to the personal property covered by the lien — meaning the secured creditor may proceed with repossession. File as quickly as possible and consult a bankruptcy attorney if you have missed the deadline.
The means test (Form 122A-1) is filed with the petition and compares your household income to the state median.
Open means test wizardNot legal advice. SynthCounsel is not a law firm. Reaffirmation agreements have strict requirements under 11 U.S.C. § 524(c) and require court approval in some circuits. Consult a licensed bankruptcy attorney before deciding to reaffirm.