Every now and again, you get a glimpse of some light at the end of this LOOOONG tunnel! We had such a glance last week...
I was shocked to check my bank balance online, and see that our Federal Income Tax Refund had been deposited. Now this might not seem like a big deal to many, but for us, it's a FIRST in many years. You see, my husband had a tax lien on back taxes since 1998,which we were able to include the balance owed ($6K) in our BK. We have NEVER received our tax refund...they have always been applied to his old tax debt. Excpet for 1 year, for some reason they honord our "Injured Spouse", and we rec'd a partial refund that year.
Our atty really didn't know if we'd actually get our return this year, since we filed very close to tax day. But you can bet we were happy to see that nice deposit. We used it quickly to get our mortgage current and pay our day care expenses that were 2 months past due. Hubby has to take another Grad Class to keep his teaching certificate & thius his job, so the balance will go to that. Our atty never mentioned not spending it, when I asked him repeatedly about taxes, etc. So, we used it for very important and verifiable expenses that were either delinquent (house/child care) or required for DH to keep his job.
It was nice to be able to go to our hearing with our delightful (NOT!)mortgage company (CHASE) and show them that we were current! The PACER report says "...dismissed, case moot".
Now, on to our 341 which is scheduled for June 6. I'm expecting the trustee to ask us if we received/expect to receive a tax refund. Of course, we'll tell them yes and show them the cancelled checks for the bills we paid.
We are already adjusting to living on a cash basis, but wouldn't you know, I'm already receiving "pre-approved" cc offers in the mail every day! Of course, I just tear them up. We'll be waiting a while for that, I think. I'd like to finally establish a savings acct, which we've never had. So, once this is behind us, that will be first on the "to do list".
Hoping for brighter skies ahead...
I was shocked to check my bank balance online, and see that our Federal Income Tax Refund had been deposited. Now this might not seem like a big deal to many, but for us, it's a FIRST in many years. You see, my husband had a tax lien on back taxes since 1998,which we were able to include the balance owed ($6K) in our BK. We have NEVER received our tax refund...they have always been applied to his old tax debt. Excpet for 1 year, for some reason they honord our "Injured Spouse", and we rec'd a partial refund that year.
Our atty really didn't know if we'd actually get our return this year, since we filed very close to tax day. But you can bet we were happy to see that nice deposit. We used it quickly to get our mortgage current and pay our day care expenses that were 2 months past due. Hubby has to take another Grad Class to keep his teaching certificate & thius his job, so the balance will go to that. Our atty never mentioned not spending it, when I asked him repeatedly about taxes, etc. So, we used it for very important and verifiable expenses that were either delinquent (house/child care) or required for DH to keep his job.
It was nice to be able to go to our hearing with our delightful (NOT!)mortgage company (CHASE) and show them that we were current! The PACER report says "...dismissed, case moot".
Now, on to our 341 which is scheduled for June 6. I'm expecting the trustee to ask us if we received/expect to receive a tax refund. Of course, we'll tell them yes and show them the cancelled checks for the bills we paid.
We are already adjusting to living on a cash basis, but wouldn't you know, I'm already receiving "pre-approved" cc offers in the mail every day! Of course, I just tear them up. We'll be waiting a while for that, I think. I'd like to finally establish a savings acct, which we've never had. So, once this is behind us, that will be first on the "to do list".
Hoping for brighter skies ahead...