Can I Protect My Tax Refund with Bankruptcy?

Yes, it’s that time of year again! Many will have already spent their refund in their head on items that will be forgotten about quickly. If you’re in a hole financially, you can make a game changing decision to use it to start your life over. That’s a decision that will not be forgotten quickly!

However, if you are going to use your tax refund to get a fresh start by filing for Chapter 7 Bankruptcy., there’s a few things you need to know. One is, can the Trustee still take your Tax Refund? The answer is, maybe.

It depends on when you receive it, how much you receive and what you do with it. If you plan on filing bankruptcy with your Tax Refund, it’s important to speak with an attorney before you spend any of the money. Certain repayment can cause issues with filing, and having too much money on hand can cause you to lose it. An experienced bankruptcy attorney can advise you how to properly handle the refund to make sure you don’t lose any of your refund, or do anything that would cause problems in your bankruptcy later.

We offer free consultations which both help you maximize your refund and file for Chapter 7 quickly. Don’t lose out on information that you can get for free. Call (314) 802-8328 for a confidential chat.