Planning on filing chapter 7 we are below the median income for PA. We are planning on filing for our income tax refund prior to filing, but attorney said that our refund will count as income on schedule I and this may force us into a Chapter 13. Disposable income prior to income tax refund is 13.67 now he said it will be 213.67. Does this sound right? Any advice would be much appreciated.
-
-
I don't think it counts as income
I think it counts as an asset. It's money owed to you.
If there is enough room under your wildcard or cash exemptions, you may be able to protect it from the trustee.I think of my bankruptcy less as "walking away" and more as "gnawing my leg off to get out of a trap".
Comment