If you file a Chapter 13 do you get to keep your income tax during the 3-5 years repayment plan

Asked over 5 years ago - Eufaula, AL

if you file a Chapter 13 do you get to keep your income tax during the 3-5 years repayment plan

Attorney answers (1)

  1. Joycelyn R. Curry

    Contributor Level 10

    Answered . No. During a Chapter 13, the bankruptcy trustee will file a request that all of your tax returns be turned over to him. However, this goes toward the balance you are paying off and can help you exit bankruptcy faster. The goal of a Chapter 13 trustee is to get as much of your disposable income as possible. This will include all future tax returns, bonuses, and other timely payments outside of your regular salary.

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Debt

There are different types of debt, but all involve one person (the debtor) owing money to another (the creditor). Terms of repayment are governed by a contract.

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