If you file bankruptcy chapter 13 and tax refund same month will you still get it?

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You may get it, but you will have to turn it over to the trustee. It may shorten your plan payment time period.
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Can you file for a tax refund while in a chapter 7 bankruptcy?

Filing Return While in Bankruptcy . Yes, you still have to file your taxes as usual. Any refund will probably be appropriated by the trustee and treated as a nonexempt asset, which will be used for repayment of creditors.. Adding As indicated, this is one of your assets and must be disclosed to ( Full Answer )

How can creditors size a tax refund check one year after filing chapter 7 bankruptcy?

Answer . The answer depends on who the creditor is and the status of the debt. If the debt was a student loan or other non-dischargable debt, then your tax refund can be taken. If the debt WAS discharged, ANY collection action of any kind on a discharged debt is a violation of the permanent inju ( Full Answer )

In the state of Ohio is a chapter 7 bankruptcy trustee entitled only to the portion of a tax refund from the date of the bankruptcy filing.?

Answer . Depending upon the amount of time between the filing of the BK and the filing of the tax return; a refund may be pro-rated to determine the portion that is included as a BK asset.. And if anything, the portion to be taken by the trustee is the part relative to before the filing. Fol ( Full Answer )

Why does the court sometimes take the tax refund when a person files a chapter 7 bankruptcy?

Answer . \nA tax refund is considered income/asset belonging to the BK petitioner and is therefore subject to seizure for the repayment of debt.\n. \nWhether or not the refund can be included in the BK depends upon the time frame of the BK filing vs. the tax refund date and amount, the status o ( Full Answer )

If you file a chapter 13 bankruptcy and include taxes years 2004 2005 can the IRS take your refund in 2007 for what you owe for tax year 2004?

como subio y bajo los precios en metro pcs desde ano 2004 al 2007 Ans I believe that the IRS maintains it's right to offset (that is clearly legal/proscribed) and what is being done in something like this, even in cases of BK. Whether that right is absolutely always allowed may be another story ( Full Answer )

What tax breaks does a creditor get when a debtor files for Chapter 13 Bankruptcy?

Let me start with addressing, and dismissing as foolishness, a weird concept that many people seem to try to suggest in charge offs, bankruptcies and anytime they don't pay the bill: NO, SOMEONE NEVER IS BETTERED BY YOUR TAKING THEIR PRODUCT AND NOT PAYING FOR IT! Certainly, if you just walked in ( Full Answer )

If you have filed for bankruptcy can you keep your tax refund rebate?

I believe the best way to look at this is: The money your being refunded is an overpayment made for earnings at some time. If those earnings were pre-petition, so had you had the money it would have been part of the BK assets, then the refund should be too. (The only reason the BK didn't have it ( Full Answer )

What can you use your income tax refund on if your filing chapter 7?

Until you file, your money is yours to use. Financial counseling would be an excellent choice.. However, you have debt obligations you promised to pay...that would be a good honorable place to use it. (If you don't think doing the honorable thing is important, then don't complain when others don't ( Full Answer )

If you owe fed taxes and getting a refund in state taxes can the trustee in chapter 13 bankruptcy still take your refund?

Sure. The refund is only the amount you estimtaed as hence made as ocver paid, Had your estimate been more accurate or you had paid less then that amount, then the additional would have been avialable to pay creditors. You could have had more witheld, should that mean they should get less? Don't y ( Full Answer )

When filing a chapter 13 in the state of Indiana will the trustee take all of the tax refund?

This question has been discussed many times here..and there seems to be no hard and fast rule. Certainly, it depends on several things. Most importantly, is what period the overpayment reflected in the refund really realtes to. For example, say it is a refund for a year and you filed BK in Dec ( Full Answer )

How long do you have to wait to file a chapter 7 bankruptcy after you have filed for a chapter 13 bankruptcy?

Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than ( Full Answer )

Should you wait to file chapter 13 after tax refund?

Either way they will want a tax return filed before filing for chapter 13. If you are expecting a refund then they will seize it if it is after so to keep the money file first and wait for the return, it will be considered as part of your income. If you owe it is better to know the amount before ( Full Answer )

What are the rules to file Chapter 13 bankruptcy?

An abstract answer will probably not be helpful. There are rules that apply to every bankruptcy court and there are local rules for each court. In general, if you earn more than the median income for your state and family size, you have to file c. 13 or apply standard deductions for various expenses ( Full Answer )

How do you file for chapter 13 bankruptcy?

The best way, especially for a Ch 13 is to contact a local attorney. You may end up with a lower repayment plan by using an attorney as well because they understand all the exemptions that you may qualify for. If you are set on doing it yourself, contact the clerk of the local Bankruptcy Court fo ( Full Answer )

Will you ever get a tax refund again if you file chapter7 bankruptcy?

Sure. And you get one before and during C 7 too. Its just that a refund is a return of an overpayment, an amount that you put on deposit above what was needed if you will, and you hand it over so it can be used to pay the debts it would have been available for. After BK, if you overpay tax on any ( Full Answer )

Can chapter 13 still stop foreclosure when you file bankruptcy on the same date of the foreclosure auction sale date?

One of the most important aspects of Chapter 13 bankruptcy and how it relates to the home mortgage foreclosure process is its ability to put the entire proceedings on hold, no matter how far along they have gone or when they homeowners file for bankruptcy. This means that foreclosure victims can, in ( Full Answer )

Can you file a chapter 7 bankruptcy after a chapter 13?

Yes, and this happens often. A debtor who cannot meet the obligations of the payment plan imposed by Chapter 13 Bankruptcy may wish to switch to Chapter 7. This can be done once for any reason, without court approval. However, to switch back, approval of the bankruptcy court is required, and they wi ( Full Answer )

How long after you file a chapter 13 bankruptcy can you do chapter 7?

If enough time has not taken place, but a debtor wants to eliminate their debt in a subsequent chapter 7 and has sufficient assets to do so, filing another case may be a good idea. Suppose a debtor has a messy asset(lawsuit, insurance claim, etc) but wants to use that to pay creditors. By filing ano ( Full Answer )

In Ohio chapter 13 bankruptcy trustee entitled what portion of a tax refund from the date of the bankruptcy filing?

Hello, In Ohio if you file chapter 13 the Trustee will not touch your Federal or State tax refunds. Unless you owe Federal and State tax debt. In that case the Federal and State Government will take what ever you owe them. Happy Holidays ans I would disagree with the above. First, the State mak ( Full Answer )

Do you lose your tax refund for filing chapter 7 bankruptcy in Washington OR ANY state?

Very likely...the refund is because you had more money than needed withheld from your paycheck and pu in (essentially) a savings account at the IRS to pay your eventual liability. This money, earned and saved pre-filing, had you not had it put aside (or had you correctly estimated and completed the ( Full Answer )

Will the bankruptcy trustee in Minnesota take your tax refund in case of chapter 13?

No! You must claim more dependants on your paycheck to avoid the trustee claiming your refund. 1500$ is the limit from Fed and State combined. Keep your refund below that amount combined and you will be in the clear. I find it ironic that if you owe the irs any money the trustee does not help out wi ( Full Answer )

Does trustee in Louisiana take your tax refund in chapter 13?

No they do not take your refund from my experience, but they do take the state refund. If they do take it, you can contact the trustee and ask for it back. I was told as long as the payments were being made every pay period we were okay. Hope this helps

Can you file chapter 7 bankruptcy after filing chapter 13?

The U.S. Bankruptcy Code allows debtors to file for bankruptcy multiple times, but has changed the number of years you must wait between filings. Previously, a debtor could file under either Chapter 7 or 13 after a six-year waiting period. In 2005, this changed to coincide with the new rules for ban ( Full Answer )

If you default on a chapter 13 bankruptcy can you file for a chapter 7?

An unfortunate aspect of Chapter 13 bankruptcy plans is that the budget is very strict and hard to keep. An individual having problems with the chapter 13 bankruptcy can convert into a chapter 7 bankruptcy or re-file altogether. Make sure to look into the changes and different effects that a chapt ( Full Answer )

Can chapter 13 bankruptcy still save home if filed after the auction sale?

If the case was filed before the deed to the new buyer was recorded, it may be possible. Many banks/mortgage companies have been trying to avoid liability for premises liability and maintenance by not recording a deed after foreclosure, sometimes for a year or more. Talk to your lawyer, or check the ( Full Answer )

How do you withdraw chapter 13 bankruptcy filing?

By not making your payment to the trustee. He will see you fell behind, and file a motion to dismiss your case. OR, pay back the entire amount you owe in a lump sum.

Who is eligible to file a Chapter 13 bankruptcy?

Eligible persons are natural persons who have regular income and who possess noncontingent, liquidated, unsecured debts of less than $250,000 and secured debts of less than $750,000.

Is there a way to keep income tax refund after filing chapter 13?

I think if chapter 13 has been contemplated then for withholding status discussion with attorney becomes important. Attorney can construct the importance to adjust withholding or these things can be consulted with tax professional to project tax liability. Ideally in this situation tax return will d ( Full Answer )

After filing a chapter 13 bankruptcy can I get a passport?

Yes, but if you are planning to leave the US, you should not leave until your chapter 13 plan has been approved. If you are going to spend a lot of money that is supposed to be in your plan, not being used to roam around the planet, you could find yourself facing federal charges on your return.

Will you get your tax refund if you file for bankruptcy?

Whether you are entitled to your tax refund will depend on what type of Chapter of bankruptcy you are filing and whether the bankruptcy exemptions can be used to protect the tax refund. If you are filing for Chapter 7 bankruptcy then you can generally keep the refund if the available state bankruptc ( Full Answer )

How long does it take for a trustee to refund your tax refund after filing chapter 7 bankruptcy?

The tax refund goes into the bankruptcy estate. If your chapter 7 filing did not exempt the refund, the money will be used to pay the trustee and to pay your debts pro rata. That is, each creditor gets an amount equal to the percentage the debt is to the total indebtedness. You are not likely to get ( Full Answer )

What are the rules for filing chapter 13 bankruptcy?

In order to file for chapter 13 bankruptcy you need to submit proof that you have filed your state income tax returns four years prior to your bankruptcy. You must have a regular income and believe such debts can be repaid within a reasonable amount of time. Also counselling must be obtained before ( Full Answer )