Bankruptcy Tax Refunds Louisville Kentucky

Louisville Kentucky Chapter 13 Bankruptcy Courts do not calculate tax refunds as part of normal income.  Since Louisville Kentucky Bankruptcy Courts require you to pay all of your disposable income you lose the tax refund in Chapter 13 cases.  Plan to save your tax refund when you file bankruptcy.  

 
 

 

 

 

Bankruptcy Tax Refunds Louisville Kentucky

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Are you going to lose your tax refund if you file Bankrupcy?  Did your attorney tell you how to keep your Tax refund? 

So you thought that they would at least let you keep your tax refund if you filed Bankrupcy right?  Wrong, not if you filed the wrong kind of Bankrupcy or if you timed it incorrectly.  If you file a Chapter 7 Bankrupcy before you get your tax refund you may lose it.  However if you file a Chapter 7 Bankrupcy after you get your tax refund and after Bankrupcy Attorney you have spent it there is nothing for the Trustee to take.  

If you file a Chapter 13 you will normally lose your tax refund in all the years that you are paying back the Chapter 13 Bankrupcy.  The timing of when to file your Bankruptcy Alternative and what type of Bankrupcy to file is essential make a wrong step or move and you can lose property or make it far more expensive than it should be.   The failure to file a motion to avoid tax liens or other liens on your home while you are in Bankrupcy may mean that you have to pay them later.   Often the best approach is to simply make certain that you don't have a tax refund to lose at the end of the tax year by claiming more exemptions so that you payroll deduction is less.   

Timing and planning are everything and this is why you need good legal advise when you file Bankrupcy so that it is done properly.  You need someone that Mortgage Net Branchesknows this area of law completely and that will help you to plan this to your best advantage never do this yourself.  

The Bankrupcy Manual discusses how to avoid losing your tax refund.   Download your free copy. The Bankrupcy manual is for Debt Settlement Net Branch informational purposes only. The Bankrupcy Manual comes in rtf format for word or WordPerfect, pdf for adobe, or you can download the audios.