Specific question; BK petition/statement of intention

[InOverHead]

On my Ch.7 individual debtors statement of intention, i am wondering if the attorney filled this part out correctly.

Please help/confirm:

I am not reaffirming my Mortgage - 1st and/or 2nd. The box indicates surrendered or retained. The goes on to list, if retained redeemed/reaffirmed/other. Then lists claimed as exempt or non exempt.

He has it listed as surrendered. Is that correct?

He listes my auto's as retained/reaffirm/non exempt - this is correct as i am reaffirming.

Curious about the MTG part.

What makes it even more confusing is he has the 1st and 2nd lien holders backasswords. He claiming the 2nd as as exempt. The 1st is listed 4 times and each time is listed as non exempt.

Please explain the meaning/ramifications of exempt/non.

Thank you

[Pandora]

In

still think you're going to have a major issue keeping the vehicles, especially the Charger. Go back and re-read the posts between you and I, specifically where everything was broken down for budgeting when you were looking at a Ch. 13.

As to the exempt / non-exempt, again - did you declare the homestead or not? Fl has generous exemptions for everything execept personal property it seems if one claims homestead. From what I recall, your 1st is an I/O that is set to reset within 2 years - so is your intent to stay and pay or surrender? Exempt = property you generally can keep. Non-exempt is property you generally must surrender - of course in every case, YMMV depending on state exemption limits and your trustee.

[InOverHead]

Pandora - Yeah i remember our initial posts. Have not had a post from you in a while, and here you are...posting in two of my threads! Thanks Pandora

Well the atty has said all along that the trustee would have no interest in my vehicles so long as there was not significant equity. When we were talking before, my intention was a ch.13 and include the 2nd mtg with unsecured. Then i decided to ch.7 and and stay and pay.

I homesteaded previous years but have not received anything yet for the upcoming year.

My concern is that for the 1st MTG, what is the correct box to check for a "ride thru' or "stay and pay". Surrender just seems incorrect?

Good memory btw from our posts in oct/nov. You are very right about the resetting in two years etc...