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I am filing Chap 7 can a trustee take your income tax refund if you applied it to next years estimated tax payment liability?
Wiki User
∙ 16y ago
Your question rightly presumes they can, normally, take the refund.
How you were going to spend it doesn't make any difference.
And in the method your suggesting, you would be taking a pre-petition asset (the amount set aside before bankruptcy - now available to be used to pay any of those debts), and applying it to a post petition liability. That is a no-no.
Wiki User
∙ 16y ago
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Why must the trustee of an irrevocable insurance trust make the premium payment?
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.
If you did not make your first monthly payment to the bankruptcy trustee what will happen?
In some cases the trustee will allow a thirty day grace period for the missed payment. Pertaining to a first installment immediate action to dismiss the 13 might be taken. It is for the most part at the discretion of the bankruptcy trustee, missing any payment is reason for dismissal with prejudice.
Can you make a partial payment to the chapter 13 trustee?
You should check with your c 13 trustee. In general you can make a partial payment, but if the next payment is also a partial payment, or if you do not make up the difference, the trustee will file a motion to dismiss your case. It is always a good idea to let the trustee's office know your next payment will be short and why, and when you expect to get caught up. If you will not be able to continue the c. 13 payments as set forth in the plan, you may be able to end your c. 13 early or convert to a c 7. Consult your bankruptcy lawyer.
Does the trustee have the right to evict?
Yes, a trustee may have the right to evict a beneficiary or tenant if the terms of the trust or lease agreement allow for it, and if the trustee is acting in the best interests of the trust and its beneficiaries. However, eviction proceedings must follow legal guidelines and requirements set by state and local laws.
What happens if you miss a payment in your bankrupcty agreement?
The person should contact the BK trustee immediately. A trustee will generally give the debtor thirty days to bring the payment(s) up to date before requesting the "13" be dismissed.
What can a trustee take during chapter 13 bankruptcy?
Money for your plan payment, tax refunds.
How do you compel a BK trustee to take a full cash payment and discharge the BK?
You can compel the BK trustee to take full cash payment and discharge the bankruptcy by going to his/her office in person or setting a court date. Your attorney can advise you the best path to take.
After Bankruptcy discharge you were named as a beneficiary to a life insurance annuity but you deferred payment for 5 years Do you have to tell the trustee about this?
yes
Why are your chapter 13 checks written out to the trustee personally?
When it pertains to a chapter 13, the trustee receives the payment amount stipulated in the approved BK, and disburses the funds in accordance to debt priority. Chapter 13's are more expensive than "7's" because of the additional work involved in the payment and accounting of debts.
Can you be my own trustee or my corporation?
Another asker who can't control his pronouns. Why would I want to be trustee of your corporation or of you? Corporations do not have trustees. If the corporation files for bankruptcy protection, you cannot be the trustee. Similarly, you cannot be your corporation. A corporation is a separate legal entity. You may be the only officer and shareholder, which can cause you some tax and liability problems, but you are not the corporation.
How do you have a bankruptcy payment plan modified?
Discuss it first with the trustee and then file a motion to modify the plan. Unsecured creditors should not receive less than the loriginal plan, though this is not always prohibited. Copies of the motion and amended plan must be served on the trustee, US Trustee and creditors or their attorneys, or according to your local rules.
What happens if the employer doesn't make the payment to the bankruptcy trustee on time?
The Trustee must take actions to assure the process is adhered properly followed. The court could impose penalties, especially if the failure to respond results in a loss or is irresponsible.
