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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37949
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I have already filed Texas Chapter 7 and have already had my

Customer Question

Customer: ***** *****. I have already filed Texas Chapter 7 and have already had my 341 meeting. I was not asked about tax refunds and did not think about it at the time. I did not think I was due any refund because since I owed IRS, I believed that they would be keeping my current year refund. I looked it up afterwards and I think I will get a several thousand dollar refund. How do I amend the chapter 7 and will it slow down the discharge
JA: Thanks. Can you give me any more details about your issue?
Customer: I filed on November 3, meeting was on December 3 and discharge is scheduled for February 1st. We did not have any assets that were not exempt.
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Submitted: 11 months ago.
Category: Bankruptcy Law
Customer: replied 11 months ago.
Also, since I am not sure about a tax refund, what if I waited until the refund comes to me to see if I actually get one. I will have already received a chapter 7 discharge. What happens if I do not disclose the refund after the discharge?
Expert:  socrateaser replied 11 months ago.

Hello,

Unless your bankruptcy court has a local amendment form (Northern, Southern, Eastern, Western) on its website, which provides specific requirements for amendment, the default method is to file the original amended petition, plus two copies with the clerk, and a proof of service showing that you have served notice of the amendment to the trustee and any creditor who will be affected by the amended petition.

The schedules should reflect that the prorated value of your tax refund is an asset of the bankruptcy estate for distribution to unsecured creditors. If you filed bankruptcy on Nov 3, then 306/365≈84% of your refund is estate property, and 16% is your separate property.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer -- otherwise, I receive nothing for my efforts in your behalf.

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