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Simple English definitions for legal terms

statement of intention

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A quick definition of statement of intention:

Statement of Intention: A statement filed by someone who is declaring bankruptcy, in which they explain whether they plan to keep or give up property that they owe money on, and whether they are claiming that property as exempt. This statement must be filed before the first meeting with creditors or within 30 days of filing for bankruptcy.

A more thorough explanation:

A statement of intention is a preliminary statement filed by a debtor in a Chapter 7 bankruptcy case. It outlines whether the debtor plans to keep or surrender property secured by consumer debt and whether the property is claimed as exempt.

For example, if a debtor has a car loan and wants to keep the car, they would state their intention to retain the property and continue making payments on the loan. If they do not want to keep the car, they would state their intention to surrender the property to the creditor.

The statement of intention must be filed before the first creditors' meeting or within 30 days from the petition-filing date, whichever is earlier.

statement of income | statement of particulars

General

General chat about the legal profession.

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ronniedoeslaw

11:11

Thank you both. I guess gotta put myself first for once

NemoPropheta

11:11

delete facebook hit the gym lawyer up

ronniedoeslaw

11:12

I have no social medias 😂 but I do love the gym

NemoPropheta

11:13

my new gym has a sauna

NemoPropheta

11:13

i do be in there sweatin

ronniedoeslaw

11:14

I’m legit in the sauna right now hahaha

badhorrormovie

11:14

i saw a really good analogy about leaving people behind kinda like they're driving the car and you feel as if you can't get out, but in reality, nothing is stopping you from getting out and yeah it's a moving car and it's gonna hurt leaving, but at least you're out of the moving car going nowhere

bigfatsloth

11:14

omg phone wet n sweaty as hell in tht sauna

bigfatsloth

11:15

so real

ronniedoeslaw

11:15

Yeah you hit it on the head horror, it feels like I’m running in place. It’s going to hurt now but it’ll hurt way more if I were married with kids so it seems meant to be

badhorrormovie

11:16

fawk i gotta go to the gym.....but a long ass walk instead and lifting at home kinda calls to me like a siren......

esoterica

11:16

i been getting into the sauna lately

ronniedoeslaw

11:16

I am sweaty as shit and my phone is about to overheat

esoterica

11:16

do none of you have jobs what the hell

esoterica

11:16

im only here cuz im on the clock bored as shit

ronniedoeslaw

11:17

I’m off today, but yes long walks are probably one of the healthiest things for the mind & heart

badhorrormovie

11:17

it'll all work itself out eventually brother. it hurts now, but law school is a time to surround yourself with support. Also......wfh day......i log out at like 3 because i wake up and hop on at 7am.

NosyBeagle

11:17

in the office rn just bored

NemoPropheta

11:17

im an unemployed cs graduate just like every other recent cs grad

badhorrormovie

11:20

my friend just got let go from his cs job despite being the only one there capable of doing his job.....like what da hell

NosyBeagle

11:23

hope that company goes under. what bunch of losers!

badhorrormovie

11:24

literally!!! they're a gaming company that i didn't even know existed

NosyBeagle

11:28

bet their games r trash

badhorrormovie

11:29

legit i looked at their shit and was like "oh" ..... also i'm on message limit so i'm squeezing shit in: this cycle is fucking nuts i'm looking at recent decisions and shocked by rejections for people who clearly would get into a school

esoterica

11:30

thats cuz its mid may

esoterica

11:31

baby llama u should go to ole miss

sock

11:32

damn I forgot if im on the washu waitlist or not

NosyBeagle

11:32

lmao yeah "oh" hot garbage video games. also yeah: I'm scared for the net cycle. My GPA i slow and the lsat hasn't been kind to me. I would really like 160. That's all I'm asking for.

NosyBeagle

11:32

next* cycle.

badhorrormovie

11:33

even some december apps i'm like woooaahhhh i would kill someone ,,, also i believe in u nosybeagle u will break a 160

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