The debtor plans to relocate to another state but first wants to file for bankruptcy to get a fresh start. However, since there is equity in the property, the debtor is prohibited from surrendering the property.

Question

Quizplus · Accepted Answer

Filing for bankruptcy does not inherently prohibit a debtor from surrendering property with equity. The ability to surrender property depends on the type of bankruptcy filed and the specific circumstances, including state laws and exemptions.

The Debtor Plans to Relocate to Another State but First