top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Bankruptcy and Income tax returns

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Bankruptcy and Income tax returns

    It's tax season and I believe I will get around $3k. I haven't got my discharge since the trustee is file a "Claims Barr date," which is the process when creditors are given a certain amount of time to file a claim. My house has too much equity and is on edge of losing. Can the trustee take my income tax check? By the way, my dad just asked for a second credit card under my name but in his acct., my dad is not in the best medical condition and now in the hospital. will i be liable for the balance if my dad past away?

    #2
    1. Yes, the trustee can take your tax refund (and you probably already signed a power of attorney allowing the Trustee to intercept it).

    2. Yes, you will be liable for the Credit Card.

    Incidently, why is your dad using your name to get credit?

    Comment


      #3
      No, the credit card belongs to my dad but he got me a second card under his acct. Will i be liable if my dad past away?

      Comment


        #4
        Is tax refund turned over post filing or retro filing?

        I haven't filed yet, but have all ready received refund and used it to pay the mortgage. If I file this month, do I owe the court my 2004 tax refund even if I had received it before even filing for bankruptcy?

        Comment


          #5
          from my own experience

          Chris-here is what my lawyer said when we filed about this time last year. He said to make sure that we had already filed and received our tax refund and then file. That way, the trustee will not take it. I do remember the trustee asking if we had already received our refund at our 341 meeting. Since we had, he asked what we used it for. I just told him to get current on bills and to pay taxes. He didn't have a problem with that and never asked for proof that I did. Hope this helps ease your mind a little and kudos to you for being responsible with your refund and using it for your mortgage. I think that is how the trustee will see it as well.

          Comment


            #6
            Thank you so much for your help!

            Comment

            bottom Ad Widget

            Collapse
            Working...
            X