Tax Refunds

[Ishreff]

Hi All,

I have extra taken out for federal taxes and get a refund each year to use to pay my real estate taxes and insurance on my house. This is the only way I have found so I don't use the money. I am filing for Chapter 7 in July of 2010 in the state of Ohio. I see that $800.00 is exempt but I usually get around 2100.00 and use it for taxes and insurance. Will the court take this?

Thanks

[JoeBankrupt33]

If you file your taxes early in the year, get your refund and spend it on taxes and insurance before you file bankruptcy, you should be fine. Your 2010 refund (that you would normally get early 2011) might be in jeopardy, but they could only take a prorated portion if they decided to go after it.