Legal Question in Bankruptcy in California
I'm getting ready to possibly file for Chapter 7. I've had a pay cut for the last year and my husband has been out of work since September 2009 which has made it impossible to keep up with all of the bills. We're behind in all credit card payments, one of our vehicles has been repossessed, etc. We are getting a refund this year of $9785.00 because we got to claim the 1st time homebuyers credit for $8k (we bought our 1st home Feb 2009). My question is can they take our refund from us or deny our Chapter 7 filing?
Asked on 4/23/10, 2:23 pm
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Depending on the value of your other assets, you might be able to exempt the refund.
Answered on 4/28/10, 2:28 pm
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