| Author |
Message |
|
Options 
Bookmark online
|
Kristy
Guest
|
|
Subject: taxes
|
|
|
Thu Jan 14, 2010 3:44 am
|
|
|
We retained a laywer and is filing for chapter 7 we are due to file for our tax returns.we just bought a new house last yr and our tax return looks about 12-15,000 back for us. now if we file for our taxes before our case for Bankruptcy is filed in court can they use that money from taxes as an accet or take the tax money? and do we have spend it all and show on what? we are scared as we are filing on everything but our home and we need the tax money for a new car and to help us get a fresh start. we also useing the tax money to pay laywer, will the judge look at this tax money and turn us down for bankruptcy cause of it?
thanks! need to know fast!!!
Kristy |
|
|
carol
Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California
29555 Magic Points
|
|
|
|
|
Thu Jan 14, 2010 10:05 am
|
|
|
Hi kristy
Whether you qualify for bankruptcy depends on a lot of factors and not just only on one fact whether you are cashing out on your IRS. After you apply for bankruptcy, you will be asked to go for a debt counseling session, where it will be decided if you qualify for bankruptcy. If you at all do, they will then decide if you are to apply for Chapter 13 or Chapter 7. Your earnings will definitely have an impact on the decision.
_________________
Keep in touch
Carol |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
|
|
|
|
|
Thu Jan 14, 2010 3:32 pm
|
|
|
| It would probably take some time before this is all settled, especially if you have to go thru counseling (which you def. will). I do not know that they would be able to attach these funds before all the counseling is done. I do know when you recieve counseling they take your income into consideration and that would include your return. Do you have a tax assistant that you go to when you have your taxes done? I would ask them. However if you are in the begining stages maybe you should e-file so that you receive it quicker and take less chances of losing it. |
|
|
debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 594
99 Magic Points
|
|
|
|
|
Fri Jan 15, 2010 12:38 am
|
|
|
| I know when I filed my bankruptcy a couple years ago my lawyer had me sign a homestead deed. Which was to protect all of my assets such as 401K, term life insurance, and my personal belonging. You might want to ask your lawyer about this and see if your tax money is protected under this. |
|
|
Kristy
Guest
|
|
|
|
|
Sun Jan 17, 2010 6:55 am
|
|
|
We asked our laywer about the homstead deed and he said in the many years he has had cases never one has lost their home.and we cant find a place that does that in these times.
we are about to get our papers to file for tax returns,we wanted to pay the laywer off and buya car cash. being the car is worth over 1,000 and paid off can they take it>?we are bankrupting on our other 2 trucks witch will leave us with no car at all. the laywer wanted us to figer out within 1,000$ how much we thought we would be getting bk on our taxes then call him but shortly after I told him we were planning on paying him off to get this done with he told me to go ahead and file for taxes.and I asked a few time before hanging up..you sure they cant take the money or use is as an accet and he said no that he would do an excemption on it..not sure what that means and even so can they still take the money to pay off creditors ect... we are very stresses over this the time is very clost to file taxes and affraid we wont qulify for bankruptcy or they will take the money if we get our taxes will the tax money be considered income? if so we made just borderline to file for bankruptcy in the first place and if we cant then quit frankly we are skrewed!!! we will loose everything!!!!!!!! we are state workers in CA! we lost thousands in pay! |
|
|
debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 594
99 Magic Points
|
|
|
|
|
Sun Jan 17, 2010 10:29 pm
|
|
|
| Ok not sure if you understood what I was saying. A homestead deed protects your 401k and term life insurance and things of that nature. It may protect your home as well not sure about that. Maybe he thought you were talking about loosing your home instead of it protecting your 401k ect. If he is a lawyer he should know what a homestead deed is and what it is for. I would try explaining it to him in another way not sure he understood you. |
|
|
smartysmith@neo.rr.ocm
Guest
|
|
|
|
|
Thu Apr 22, 2010 10:09 pm
|
|
|
| About 5 months ago I retained a laywer and I was just wondering how long I have before the creditors may want to sue. I plan on paying the rest of my balance in a couple of weeks. |
|
|
Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
|
|
Subject: time within which the creditors can sue
|
|
|
Sat Apr 24, 2010 10:01 am
|
|
|
Hi Smith,
There is no such specific time limit within which the creditor can sue you. If you are planning to pay your creditors in a few weeks, you can talk about this to your creditors. Explain to them as to why you had been delinquent, and that you are willing to pay the the money.
Thanks,
Aaron
_________________
Keep in touch  |
|
|
Beverly
Guest
|
|
Subject: Warrant in Debt
|
|
|
Tue Aug 02, 2011 2:32 pm
|
|
|
| I received a Warrant in Debt from a credit card company. I don't live in that state anymore and cannot make the trip because I care for my elderly mom. I was told I could request a move of the venue to my county jurisdiction but was told they will not transfer the venue to another state. so by not showing up it will be an automatic judgement against me. I receive a small SS check, my husband is unemployed and very little in savings to help me pay rent, utilies, etc. Can they take it all from me? |
|
|
William01
Joined: 06 May 2011
William01's page
Posts: 3
18 Magic Points
|
|
|
|
|
Wed Aug 03, 2011 1:54 pm
|
|
|
It will take come time because u have to go for counselling then the procedure will go a bit long then so u have to work patiently on this hope u will be able to solve this problem.
_________________
Online payday loans | Next day loans |
|
|
ajhprj
Guest
|
|
Subject: ajhprj
|
|
|
Fri Nov 11, 2011 6:52 am
|
|
|
| dgywbude |
|
|
