341 and Tax return

[jeff01]

We had our 341 yesterday and all I can say is that for how much we had ourselves worked up it was anticlimactic. The entire thing lasted about 3 minutes, there was no one else there and we only saw one person we knew in the courthouse. Now we wait...

Our tax refund did come up and I thought this might be helpful. We didn't use any exemptions for cash becasue we don't have any and there is no equity in any property we own. Our attorney said that we each had a $2500.00 exemption to use and that he was thinking that any tax refund would fall under that. Sure enough the trustee asked if we expected more than $5000.00 back. I have never gotten anywhere near that so the answer was no. He left it at that and said nothing else about it. So it appears that in my area if you have cash/equity to exempt then they will want your refund. If not then you can exempt the refund. Thought that maybe that might help someone who has filed on their own or something. I know there have been lots of questions about tax refunds and we were worried about it because we could really use the cash. It was a relief to know that we can keep it. Our attorney did say to hurry up and file and use the money and keep receipts just in case something goofy happens, but it looks like that is how they are doing it.

Jeff

[Minnymouth]

Sounds like you are now a member of the 60 day club and waiting on your discharge.

Yes, those exemptions do help with the income tax refund...

Keep in touch with us, if any changes in your status...

[so-beyond-broke]

Jeff;

What area are you from? Curious to know. Glad to hear the 341 went fine.

so-beyond-broke

We had our 341 yesterday and all I can say is that for how much we had ourselves worked up it was anticlimactic. The entire thing lasted about 3 minutes, there was no one else there and we only saw one person we knew in the courthouse. Now we wait...

Our tax refund did come up and I thought this might be helpful. We didn't use any exemptions for cash becasue we don't have any and there is no equity in any property we own. Our attorney said that we each had a $2500.00 exemption to use and that he was thinking that any tax refund would fall under that. Sure enough the trustee asked if we expected more than $5000.00 back. I have never gotten anywhere near that so the answer was no. He left it at that and said nothing else about it. So it appears that in my area if you have cash/equity to exempt then they will want your refund. If not then you can exempt the refund. Thought that maybe that might help someone who has filed on their own or something. I know there have been lots of questions about tax refunds and we were worried about it because we could really use the cash. It was a relief to know that we can keep it. Our attorney did say to hurry up and file and use the money and keep receipts just in case something goofy happens, but it looks like that is how they are doing it.

Jeff