Decided this past week that without any job prospects (started unemployment this past month), and looking at the mortgage mods out there, that it is just not in my current budget to try and keep my mortgage payments current, even if the payment gets cut in half.
Just filed my taxes last week and I'm getting about $4000-5000 back, direct deposit. If at the end of the year, my situation is still the same, I may be filing ch. 7. I'm thinking that maybe I should put that tax return in an IRA for 2009.
My question is this: does it look bad or suspicious if I get that return direct deposited, then it leaves my checking account a week later, and gets put into an IRA? I read here on these forums that that is a good way to keep it, as opposed to giving it up to the courts/creditors if I cannot exempt it. I guess it would make sense if I then filed an amended tax return also.
Thanks in advance or any input.
Just filed my taxes last week and I'm getting about $4000-5000 back, direct deposit. If at the end of the year, my situation is still the same, I may be filing ch. 7. I'm thinking that maybe I should put that tax return in an IRA for 2009.
My question is this: does it look bad or suspicious if I get that return direct deposited, then it leaves my checking account a week later, and gets put into an IRA? I read here on these forums that that is a good way to keep it, as opposed to giving it up to the courts/creditors if I cannot exempt it. I guess it would make sense if I then filed an amended tax return also.
Thanks in advance or any input.
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