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tax refund and what to do with it

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    tax refund and what to do with it

    I am a mother of 3 with a big tax refund. A little over $5,000. My attny wants me to spend it before they will file and I have been making payments on my bankruptcy for months....(they will not file until it is paid in full) but I have plans for the money to pay taxes on our home and make repairs on our home, and possible small renovations on our home but the problem is this - the house is not in my name. It is in my fiance's name. We all live there together as a family, but it is not considered on paper to be MY home. I was advised not to put money into anything that is not in my name. I am not sure how what I am "allowed" to spend my return on. Would it be better to just wait a few months to file? Any opinions or "advice" would be appreciated.

    #2
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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      #3
      Originally posted by My3Sons2126 View Post
      I have plans for the money to pay taxes on our home and make repairs on our home, and possible small renovations on our home but the problem is this - the house is not in my name. It is in my fiance's name.
      Since you aren't a legal owner of the home, that *could* raise your trustee's eyebrows if he/she asks where you spent your $5K.

      I am not sure how what I am "allowed" to spend my return on. Would it be better to just wait a few months to file?
      The first question to ask is can your state bk exemptions protect all or any part of the $5K. That's a question to ask your lawyer.

      If you do have to offload some of the money before filing so you don't lose it to your trustee, then you can spend it on normal living expenses - medical care you may have been putting off, buying food/clothing for you and your children, repairing your car if your name is on the title....you get the idea.
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !

      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

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