I am sorry if this question has already been asked. I have seen so many different answers, I am confused.
I live in Tennessee. Our attorney filed our Chapter 7 papers on November 28th. We have our meeting of the creditors on January 3rd 2012. I am concerned about our income tax return, which is not generally very high, usually around $3000. I asked our attorney if we would loose our return, he said no, but from what I am reading I am a little confused because it appears as though I just may. He said we could exempt it, but when does that happen? We already listed our assets and our 2011 income tax refund was not mentioned. Does this happen at the meeting with the creditors? We still have enough exemptions left to exempt it if that is possible. I know I should call my attorney, but he explained this..my husband heard him, he said we won't loose it..so I don't want to call him back and ask again. I wa hoping someone might be able to help me here
I live in Tennessee. Our attorney filed our Chapter 7 papers on November 28th. We have our meeting of the creditors on January 3rd 2012. I am concerned about our income tax return, which is not generally very high, usually around $3000. I asked our attorney if we would loose our return, he said no, but from what I am reading I am a little confused because it appears as though I just may. He said we could exempt it, but when does that happen? We already listed our assets and our 2011 income tax refund was not mentioned. Does this happen at the meeting with the creditors? We still have enough exemptions left to exempt it if that is possible. I know I should call my attorney, but he explained this..my husband heard him, he said we won't loose it..so I don't want to call him back and ask again. I wa hoping someone might be able to help me here
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