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Income tax refund to Trustee?

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    #1

    Income tax refund to Trustee?

    We just heard from our lawyer that we were confirmed today. I’m so relieved our payment amount did not change. We are at 5% payback. One of our stipulations is that we have to turn anything over $1,200 of a tax return refund to the Trustee. Does anybody know if that money over the $1,200 will be extra money to go to creditors or will that help us finish early?

    Thanks.
    Tags: income tax refund
    #2
    It will go to unsecured creditors. If your refunds are big enough to pay off 100% of allowed unsecured claims, your will finish early.
    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!

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      #3
      As LITR said it will go to unsecured creditors and you may finish early. On the other side, let's hope your tax return is $1,199.00 so you can keep it and start a savings

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