topic Re: Will I lose My Tax return? in Bankruptcy

Will I lose My Tax return?

Anonymous — Sat, 17 Jan 2009 01:22:22 GMT

Hi. This looks like a great place to find help, so here goes. I filed for Chapter 7 in November and my hearing was on Dec. 5. It all went well and I unfortunately had to give up my home because my fiance was not making near what she used to. I spoke to my attorney and she indicated that everything should go smoothly from here on out. But now after speaking to a few people, I am hearing differing accounts as to if I will get a tax return this year. I could really use it to help her get out of debt and get us back on the road to marriage.

Can anyone shed any insight? I won't be able to contact my attorney again until Tuesday.

Re: Will I lose My Tax return?

Anonymous — Sat, 17 Jan 2009 02:50:01 GMT

I think there is a good chance you may lose it this year. I had a friend that file 7 and lost it that year. I went through a Chapter 13 and got to keep either 200.00 or 500.00 each year (can't remember the exact amount) but had to turn over the rest to the trustee for three years.

Re: Will I lose My Tax return?

Anonymous — Thu, 29 Jan 2009 17:04:04 GMT

We filed our Ch 7 just a week ago, and our attorney told us we would lose any refund we get this year. So, most likely that will be the case for you as well.

Re: Will I lose My Tax return?

Tuscani — Thu, 29 Jan 2009 20:12:11 GMT

It really depends on when you file, the trustee and the state you are in. I know in MN people are protected and can generally keep but may need to justify how the funds were used.