Will you get to keep your tax refund money if you file bankruptcy ?

Posted on February 28, 2018. Filed under: Chapter 7 Bankruptcy, taxes | Tags: , |

It is the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which we can use in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above, and as we said above, used to pay the fees and costs for the bankruptcy.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money, if possible.

Read Full Post | Make a Comment ( 1 so far )

Your Tax Refund and Bankruptcy: What to Know

Posted on January 24, 2018. Filed under: Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , , |

tax-refund-2.jpg

Tax refund time is here.  We have questions from folks as to whether they can file Chapter 7 bankruptcy before or after filing taxes and still keep their tax refunds.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money.

Read Full Post | Make a Comment ( None so far )

Will you get to keep your tax refund money if you file bankruptcy ?

Posted on January 5, 2018. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , |

It will soon be that time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is and what you do with the refund. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being taken by the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above.

Your circumstances will be unique, so always discuss your options with an experienced bankruptcy attorney before you do anything with your tax refund money.

Read Full Post | Make a Comment ( None so far )

Will you get to keep your tax refund money if you file bankruptcy ?

Posted on February 3, 2017. Filed under: Chapter 7 Bankruptcy, Consumer Alerts, Uncategorized | Tags: , , |

It is that time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money.

Read Full Post | Make a Comment ( 1 so far )

Info About Your Tax Refund and Bankruptcy

Posted on February 2, 2016. Filed under: Chapter 7 Bankruptcy, Consumer Alerts, Uncategorized | Tags: , , |

 

It will soon be the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money.

Read Full Post | Make a Comment ( None so far )

Will you get to keep your tax refund money if you file bankruptcy ?

Posted on December 30, 2015. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney, Uncategorized | Tags: , , , , , |

It will soon be the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which can be used in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money.

Read Full Post | Make a Comment ( None so far )

Happy New Year ?

Posted on December 30, 2015. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , , , , , , , , , |

It can be. When you consider the bills you owe, the first of the year can be a great time to consider getting a fresh start and putting some of those bills behind you. There are many legal options to assist you and an attorney can review those options with you. Chapter 7 or Chapter 13 bankruptcy may be one of those options.

At Kentucky Bankruptcy Attorney John Rogers, we are now accepting new clients for bankruptcy for the coming year. Give us a call today to discuss your financial situation. Call 1-888-651-9353 toll free to schedule your visit with us ! We look forward to helping you get a great beginning to the new year !

Read Full Post | Make a Comment ( None so far )

Will you get to keep your tax refund money if you file bankruptcy ?

Posted on February 3, 2015. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , |

tax refund

It is the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which we can use in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above, and as we said above, used to pay the fees and costs for the bankruptcy.

Your circumstances may be unique, so always discuss your options with a bankruptcy attorney before you do anything with your tax refund money, if possible.

photo credit: tizzie via photopin cc

Read Full Post | Make a Comment ( None so far )

Will I get to keep my tax refund if I file bankruptcy ?

Posted on January 23, 2015. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , |

tax refund

It’s that time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which we can use in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above, and as we said above, used to pay the fees and costs for the bankruptcy.

photo credit: tizzie via photopin cc

Read Full Post | Make a Comment ( None so far )

Tax Refunds and Bankruptcy … Will You Lose It ?

Posted on January 6, 2015. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , |

tax refund

It’s that time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which we can use in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you should consult with a bankruptcy attorney before doing that. There are provisions in the bankruptcy law which may allow the trustee to take that money back from the family member or creditor should you then file bankruptcy after paying them. Alternatively, if you just keep the refund and don’t pay any of it to anyone, then the refund may be able to be protected with the exemptions as outlined above, and as we said above, used to pay the fees and costs for the bankruptcy.

Talk with an experienced bankruptcy lawyer before you get your refund. They can give you good advice on how to protect your refund.

photo credit: tizzie via photopin cc

Read Full Post | Make a Comment ( None so far )

« Previous Entries

Liked it here?
Why not try sites on the blogroll...