Questions about confirmation letter....

[8forme]

We got our confirmation letter yesterday!! In it there is NO mention of tax refunds being turned over, no mention of sending in yearly tax filings, NO mention of taxes period. Does that mean if we were to get a refund we can keep it? We generally only get a state refund, but have to pay federal. The state refund is about 1K each year, while we pay about $1600-2K to federal.

Also our 65K second mortgage was stripped and signed by the judge!! Our payment did NOT go up by the amount of the 2nd. However, it did go up incrementally to what our 401K loans are as they are paid off, 2 of them. Stupid I know but at least we are paying ourselves the interst. Beyond stating that there is nothing about anything else, it did not state the %, but did say it was a 60 month base.

[Mayo]

Each case is different. I didn't have to submit my tax returns and kept all refunds for the 5 years. This money was to be put up as an emergency fund for our savings.

[LadyInTheRed]

8forme, please as your attorney to be certain. Many of us are allowed to keep our refunds and don't have to send copies of tax returns. However, a trustee can ask for copies of your tax returns each year even if it is not in the order. If he/she does and sees a refund, you may have to turn it over. Your attorney should no if this particular trustee asks for copies of tax returns.