Hello all.. I have my 341 meeting set for December 18 and I'm trying not to be nervous about it!! The only thing I'm worried about is that the trustee will try to take my tax refund for 2015. As a single mom with 3 children, I get a pretty large sum back in February and I look forward to getting it just to make my big purchases that are needed throughout the year. Plus, some of it is already owed to family to pay back borrowed money. Does anyone have any instances where they've taken your tax refund to pay back debt? I filed in Texas in case that matters..
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If you did not exempt your refund, you should count on the trustee taking it. Did you not discuss this question with your attorney?LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent! -
Your big day is tomorrow/ I hope you have talked with someone about your tax refund. You also need to consider adjusting your tax exemptions so that nothing comes back in the form of a refund. That money is YOURS! Why let the government have your money rent free? Then they decide to let you have it back?
Good wishes to you tomorrow.~~
"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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Its to late for 2015 tax year. Unless you are a 100% plan and they are not promised in the plan the trustee will take any refund. Either use the government worksheets or a tax forecaster to see if you can adjust your withholding's for next year. Your goal should be as close to zero as possible.
I will say that I made a mess of ours and ended up owing quite a bit, but the next couple years I owed and the refunds were kept to offset. Worked out good for me.
Do the diligence and it will pay off in the loooooong run.11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JPComment
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If the trustee and/or your plan requires you to turn over refunds to the trustee during your Chap 13, you changing withholding now may not help you keep that cash if your plan is based on your current withholding. Don't make any changes before discussing it with your attorney.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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Yes, I should have said that. Hopefully you don't have the type of attorney we had--"useless as a tit on a boar..." Thanks for the catch Lady!"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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Well... as everyone else has said before, I was nervous for no reason really. I was literally in the hot seat for 2 minutes or less and asked the same questions that the trustee asked everyone else and sworn in. As of yesterday, the trustee already entered a report of "no distribution" into PACER, which the legal secretary tells me means I am cleared for discharge!!
I had a weird instance come up where my attorney had to be in court like 7 hours away and couldn't be there with me at my 341 meeting, so she had set me up with another attorney to be present with me. the whole thing threw me off and I completely forgot to ask anything about my tax refund. I will find out in the next couple days when I talk with my lawyer next..
Thanks, all!!
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You did very well! It is common practice for a 'stand-in' attorney to be present with you, when yours can't make it. We knew ahead of time, that we would have a 'stand-in'. I'm sorry you didn't know in advance.
The report of NO DISTRIBUTION is very good news. Let us know when you can talk with your attorney about the tax refund--what he/she thinks."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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