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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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We are in the process of filing a chapter 7. We have had to

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We are in the process of filing a chapter 7. We have had to extend our trustee meeting since our taxes have not been filed. We received information today from our accountant that we were getting back over $30K in refunds from the past two years. To go through with the chapter 7, the refund will be withheld. We would use the refund to pay off some of our debt. Can we get out of our chapter 7? If we need to file at a later date, can we? If so,how long before we can file? If we file at a later date, can the trustee go after any money we received from our refunds. What do you suggest we do?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
your attorney needs to file a motion to dismiss the chapter 7 case, and the court would have to agree, but as long as the trustee does not know about the $30,000 in refunds coming to you they would not object. You can then refile within 6months, but with teh 30,000 refund wait atleast 2 years or more as he will see the money.
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