341 Meeting and tax refund.

[technoreid1]

I have a 341 meeting late March. I have not filed 2007 taxes yet.

Could/would they ask or want my 2007 taxes?

The reason I am asking is that it looks like I will get a refund that would be deposited into my bank account.

Could this be looked at as a bad thing?


thanks, techno

[gophermn]

techno, you know that is a question you might be better off flipping a quarter in the air. I say this because I am finding that some Trustee's will ask for taxes and some not.

I had my 341 last Friday and they did ask if I filed 2007 - so regardless what you do with the $$$ or when you file, they might ask.

Right now my Trustee asked how much my refund was but did not ask for it. Per my attny - it is safe to just not spend it until the day after Discharge.

In my state (MN) we have wildcard exemptions which means we had some $$$ left over that is exempt - but again - I am not sure if your state has that. I will pray you don't have to give the Trustee your taxes and rebate! But like most in here will tell you, handing over a refund is far much better than being hundreds of thousands in debt!

[technoreid1]

I am a little confused....

You said: "Per my attny - it is safe to just not spend it until the day after Discharge."

Do you mean your attorney said NOT to spend it until discharge??

I guess my ? is if I a get a refund (before the 341) and buy food or pay rent?
Is something wrong with that?

Sounds like it might make sense to file after my 341?

thanks, techno

techno, you know that is a question you might be better off flipping a quarter in the air. I say this because I am finding that some Trustee's will ask for taxes and some not.

I had my 341 last Friday and they did ask if I filed 2007 - so regardless what you do with the $$$ or when you file, they might ask.

Right now my Trustee asked how much my refund was but did not ask for it. Per my attny - it is safe to just not spend it until the day after Discharge.

In my state (MN) we have wildcard exemptions which means we had some $$$ left over that is exempt - but again - I am not sure if your state has that. I will pray you don't have to give the Trustee your taxes and rebate! But like most in here will tell you, handing over a refund is far much better than being hundreds of thousands in debt!

[BearChaser303]

My 341 was in January and I had to sign a stipulation at the meeting promising to send the trustee my tax return when filed, and my refund if I receive one.

[rilbrianne]

They can't take it if you use it on reasonable expenses. Buy groceries, car repairs, baby items, update your home, etc. KEEP RECEIPTS!!!

If you file your taxes after your 341, they can still take it if the find that you aren't so low in income that you need it to survive. We are very low income and our tax refund was the only thing we had to offer the trustee to pay our creditors. We got back about $6000 and never had to give up a dime of it.

[technoreid1]

Just talked to my attorney and he said to file our taxes and that it is no big deal as long as it falls under the exemptions....


Do you think this sounds right?

thanks, techno

They can't take it if you use it on reasonable expenses. Buy groceries, car repairs, baby items, update your home, etc. KEEP RECEIPTS!!!

If you file your taxes after your 341, they can still take it if the find that you aren't so low in income that you need it to survive. We are very low income and our tax refund was the only thing we had to offer the trustee to pay our creditors. We got back about $6000 and never had to give up a dime of it.