Tax Refund

[Carloscda]

13 was converted to 7 a few months ago, Had 341 last week.

Will I be able to keep my refund of 2k?

[justbroke]

Yes, you keep your refund. Do you know why? (Hopefully your lawyer knows why, but I'm going to tell you.) Anything after your Chapter 13 was filed, is not property of the Bankruptcy Estate. Therefore, in a Conversion to Chapter 7, the Chapter 7 Trustee is usually compelled to turn over any funds left over from the Chapter 13. Sometimes the Chapter 7 Trustee will try to play games, but it's easy to tell them that the refund is not part of the "Chapter 7 bankruptcy estate"... sorry.

The Trustee didn't even ask for it, right?

[Carloscda]

No he didn't I didn't mention it.

I have a payout coming in July from my job 10yrs ago which is 15k, he asked would I be able to pull the whole thing. I said I won't know ti'll I get my paper work?

What I was planning on doing was using about 8k for a down payment on a house.

[justbroke]

Why is he asking about pulling the money? I don't understand what that has to do with your tax refund or if you're asking me a new question.

As for getting a home... you may need to wait a couple of years before any underwriters (FHA, Fannie, Freddie) will touch you.

[Carloscda]

Yea that was a separate question.

I kinda of figured as much, what about renting?

[justbroke]

Renting, why not. You should be able to rent for a couple of years and then purchase once your Bankruptcy settles down.

[Carloscda]

Cool, thanks for the input!