Comments on: I recently filed chapter 7 bankruptcy in Illinois will I be able to keep my tax refund?

By: Dark Green Money

Dark Green Money — Mon, 18 Jan 2010 02:35:59 +0000

It will be discussed at your 341 meeting along with the rest of your assets.
Look at your petition.
Schedule B, #18 "Other Liquidated Debts Owing Debtor Including Tax Refund"
Best case is if your estimated refund is listed here and fully exempt using your $4000 Wildcard exemption.
Second best is if it wasn’t listed, but you have remaining unused value in your wildcard exemption. Most TTs won’t make you ammend to list/use it.
Third best is if the TT flakes out and forgets to ask (unlikely at this this time of year).
Fourth best is if your refund is based on EIC (fully exempt).

But if not of those apply, he can make you fork it over.
References :
http://www.bkworker.blogspot.com/

By: Colton

Colton — Mon, 18 Jan 2010 01:51:59 +0000

http://diylegalinfo.com/bankruptcy_Links.html has a lot of information on bankruptcy questions, how to handle them yourself and other information.
References :
http://diylegalinfo.com/bankruptcy_Links.html

By: Max Hoopla

Max Hoopla — Mon, 18 Jan 2010 01:23:59 +0000

Maybe. You have not provided enough information.
References :

By: tro

tro — Mon, 18 Jan 2010 00:57:59 +0000

if the b/k has been finalized, that contract is now in effect, if the documents indicate that future refunds will be withheld, whatever the contract states will be
otherwise, if future refunds are not addressed in the b/k yes, you should get any refunds
References :

By: drive_55_not

drive_55_not — Mon, 18 Jan 2010 00:18:59 +0000

Depends,

Your trustee will take any non-exempt funds to pay creditors,

Looks like Illinois has a 2-grand personal exemption, anything over that is in play,,,

Good luck,,,
References :

By: Yeah I'm Talkin' 2U 2

Yeah I'm Talkin' 2U 2 — Sun, 17 Jan 2010 23:49:59 +0000

Yes
References :