ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN)

One of the most confusing elements in consumer bankruptcy practice is the effect of electing the option given in § 1325(a)(5)(C) or § 521(a)(2). Section 521(a)(2) requires every debtor to file a statement of intent that indicates whether the debtor intends to “surrender or retain” estate property which secured a debt. If the debtor intends to surrender the property, the automatic stay terminates and the creditor is free to pursue the surrendered asset. In a Chapter 7 case, § 727 permits a court . . .

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Prior to his appointment as a bankruptcy judge for the District of Utah in September of 2015, Judge Anderson served for seventeen years as the Standing Chapter 13 Trustee for the District of Utah. During this time, he administered over 70,000 Chapter 13 cases. Judge Anderson was elected president of the National Association of Chapter 13 Trustees (NACTT), and he...

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ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?

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Related Articles

Honorable Kevin R. Anderson, U.S. Bankruptcy Court District of Utah

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