What will the bankruptcy courts do to you if you were suppose to pay a portion of your taxes to the trustee and because of financial difficulties couldn't make the payment? Will they allow you to step up a payment plan?
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Did you file this spring or last year?? That will figure into what might happen.
It will also depend on the Trustee and your own personal circumstances.
You need to give more info for a more definite opinion.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen... -
I filed before the deadline of the new changes in the bankruptcy laws last year.Comment
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You're an Old Law filer and you're not discharged yet??
The Trustee could go several different ways on your income tax refund. Depends on if you were told at your 341 to expect to pay, or if you got a letter this spring telling you to pay AFTER you'd received and spent your refund. If you were told at your 341, the Trustee is gonna be less sympathetic than if you got a letter this spring after you'd already spent the money.
Say you filed in October, the Trustee is entitled to take roughly 10/12ths of your refund. Their take depends on when you filed in the year.
Whatever you spent the money on, it'd better be necessary things. And you'd better have receipts to prove it.
Some Trustees will demand the money all at once. Won't care where you get it from or how. They just want the money. Others might let you make payments. 2, maybe 3 months to get the money paid to them. Just depends on the Trustee.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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Just another note to add to this one'... we also had to turn our refund over to the Trustee. We filed on Sept. 9th. Trustee took 69 % of refund. Recently the entries in Pacer says creditors have 90 days to submit proof of claim. This means that if you spent the refund and elect to make payments your case will not close until the payments have been made in full, then the funds have to be distributed to creditors* another 90 days of waiting. I know it was hard for me to put that check for 3100.00 in the mail to our attorney, but I bit my cheeks real hard and put the stamp on the envelope and kissed it goodbye!Comment
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