Legal Question in Bankruptcy in Virginia

Bankruptcy and Additional Funds

I filed for Chpt 7 on 12/31/08 in Northern Virginia. The finalized paperwork has not come thru yet - I understand I have to wait until March to get the official docs from the courts and until May (60days) before i'm completely ''in the clear''.

Should I then, wait to file my taxes until April? I will be getting money back - from child credit and mortgage from this recent tax year. I didn't know if this would then, show the courts I have assets in the way of sudden funds and thus cause problems?

How do I go about this situation?

Or would it not matter since its tax related? I'm confused.


Asked on 2/05/09, 8:42 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Bankruptcy and Additional Funds

Your 2008 tax refund (or 364/365 of it) is property of your bankruptcy estate, and unless you have exempted it (or can still do so), you will have to turn it over to the trustee. If you did not disclose this asset, you need to amend your schedules to do so. Discuss this with your lawyer asap (if you don't have a lawyer, get one - do not do this pro se). We handle bankruptcy matters throughout Va., and if you don't have a lawyer we would be glad to assist you on this matter.

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Answered on 2/05/09, 9:03 am


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