What Happens To Tax Refunds In Chapter 7 Bankruptcy Cases?
Filing for Chapter 7 bankruptcy is a great solution for becoming debt-free if the majority of your debts are unsecured. When you are approved for a discharge in Chapter 7, all of your unsecured debts will be forgiven, but you may have to surrender some of your assets, including your tax refund. Before you file, you may want to know how the trustee will handle your refunds, and here are three things you should know.…
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