Taxes refund before 341 meeting?

[vicmost]

I got my taxes done today and to my surprise I will be receiving $1995 (-700 previous year tax) plus $235 from the State of California.
I filed Jan 20th and my 341 meeting is February 24th 2011. Can I keep some of the return to pay down some medical bills that I just incurred? Or is the Trustee going to take it even though I haven't officially entered a plan?

[BKParalegal]

You did not say if you are in a 13 or 7 but you mentioned a plan so I assume 13. CA has a version of fed exemptions and you should have a wildcard exemption that your attorney can amend schedule B and C to exempt it, otherwise it will be a non exempt asset and you will have to pay the amount of your refund to the unsecured creditor pool.

On a side note, and it may just be minor, but if you still have ongoing medical issues you may want to rethink going through with your BK and waiting until you are healthy

Good luck

[vicmost]

Thanks BKParalegal,
I am filing a 13. I just emailed my attorney all the information and hopefully He can amend my schedule. Ironically I was sent him some last minute medical bills that I incurred before filing but didn't receive the bills until now.
In response to your side note.
Two years ago when I started planning for bk I added after-market disability insurance to beef up my exemptions. Eighteen months later I end up having carpal tunnel surgery on both hands and I've been off since November. My insurance combined with state disability has been a little bit more than my average pay so my lawyer increased my plan by $50. Luckily I am almost fully recovered and will go back to work in March..

[vicmost]

Spoke with my lawyer today and I guess they cannot amend my schedule at this time. I was told to hang on to the tax return money to see what will happen at my 341 meeting. My case my be continued do to some new requirements required by the trustee.....

[newbie2]

I got my taxes done today and to my surprise I will be receiving $1995 (-700 previous year tax) plus $235 from the State of California.
I filed Jan 20th and my 341 meeting is February 24th 2011. Can I keep some of the return to pay down some medical bills that I just incurred? Or is the Trustee going to take it even though I haven't officially entered a plan?

Don't spend that tax refund. I don't know how the tax returns are treated in your district, but if your attorney drew up your plan without using an estimated tax refund in your monthly income, then the trustee will most likely want it. Or, perhaps your attorney can propose that you keep it to pay post filing medical bills and increase your payment amount to the trustee monthly instead.

[vicmost]

Don't spend that tax refund. I don't know how the tax returns are treated in your district, but if your attorney drew up your plan without using an estimated tax refund in your monthly income, then the trustee will most likely want it. Or, perhaps your attorney can propose that you keep it to pay post filing medical bills and increase your payment amount to the trustee monthly instead.

What if I spend part of it on a 55" LCD TV?...They're on sale now! Lol!