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Had 341 today also...questions

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    Had 341 today also...questions

    First of all, let me say thanks to all the posters on this board. I have learned so much on this forum. I had my 341 in Tampa, Fl today @ 4:30 pm. We arrived about 45 mins. early. It was vey informal. The trustee sat at her desk in a room with about 25 chairs. Each case when called sat her desk to be interviewed. It was pretty painless, just normal questions, but she was very interested in tax refunds. She asked how much we received last year which was about $3400.00. She then asked if any of it was from earned income credit. I said I think a small part of it was but the largest part was child tax credit. She then said she wold hold the case open until she received 2005 tax returns. She also wanted a copy of 2004 returns and Oct. bank statements.

    Okay, my atty advised me to change our exemptions so less is held out of our check so I did the day after filing. Is it not going to look funny to her that our refund is about half of what is was last year? Since Oct. 4, our filing date, no fed taxes are being taken out. Is this okay for us too do? I do not want my case dismissed over my tax refund. Also, when I said a small part of my tax refund was earned income credit I was wrong. It was only child tax credit. I was so nervous I could not remember hardly anything. Should I be worried? I did not mislead her intentionly. My biggest worry is that my Oct. bank statement will show the difference of income after the filing date because of the exemptions being changed. Thanks for any advise. Sorry so long, I am still wired from the 341!

    #2
    Wow, that stinks about her asking about the tax refund!!!

    Hope all works out!!

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      #3
      I've seen advice about increasing exemptions to lower withholding posted many times, without any warnings -- so I doubt it would be a problem -- as long as your expenses remain about the same.
      I'm in N. California ... Thanks for your replies!
      10/11/05: bought www.form7.com software
      10/14/05: Filed Ch 7 BK Petition pro se skeleton
      10/27/05: Filed all schedules, etc.
      11/17/05: 341 meeting (done!)
      01/16/06: Last day to file objections
      01/18/06: Discharged, closed

      Bankruptcy LINKS

      Comment


        #4
        I would think that it would matter if your income was now signifcantly different than what you filed on. For example, if you filed at even income and expenses and now your income was $300 a month higher, then you would qualify for a chapter 13.
        It seems to me that it would be better to let them have one year's worth of tax refund than risk 3 - 5 years in a chapter 13, or worse yet, having your case kicked out.
        OTOH, there are many reasons why a tax refund would be different on different years.
        Personally, I don't think that I've received a refund in more than 20 years, so it's really not my area of expertise. Art

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