Legal Question in Bankruptcy in Nevada

can the trustee take away gambling winning if im currently in chapter 13


Asked on 7/17/11, 12:42 pm

2 Answers from Attorneys

James Smith James E. Smith Ltd.

Yes, that money can be taken to accelerate your plan payments. Presumably the winnings will be reported on your income tax return so the Trustee will know about them. Of course you can always dismiss your Chapter 13 if you have big winnings and pay your debts outside bankruptcy.

Read more
Answered on 7/17/11, 6:05 pm

Unless the amount of your winnings is enormous, it is unlikely that the Chapter 13 Trustee will even be aware of them. Even though gambling winnings must be reported on your tax returns each year, the Trustee spends very little time examining your returns.

Read more
Answered on 7/18/11, 7:32 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Nevada