Income Taxes / GIFT

[ashlei422]

OKAY, so here is the deal.
I am behind on my mortgage abour 3500 and have unsecuerd debts. I have decided to file CHapter 13.

My questions are this:

1. My mom cosigned on a student loan but now she has decided she doesn't want it to come back on her, so she is going to pay it off in January (About $5,000) She doesn't want my account to reflect poorly on her.

2. In the beginning of Feb, I will likely recieve about 1700-2000 for income tax return.

I don't yet have a foreclosure notice. When should I file?

Before both, one or after both?

How will recieving the income tax return factor in my plan? Will it be considdered income?

[ccfriend]

When I filed they did calculate half of my refund as income. Since they did calculate the $1602 as income every year I get to keep $1602 of my tax refund and not give the whole refund to the trustee. Some trustees want tax refunds and some don't. Mine does.
As far as your mom is concerned it won't reflect on her credit. I filed without my husband and we have a mortgage and 2nd mortgage in both our names. His credit report says the mortgages are paid to date and in good standing. My credit report on the other hand says in Ch 13 Wage Earners plan.
Student loans go into Forbearance...meaning they are still in good standing and collect interest but you don't have to pay on them while you are in bk.