Legal Question in Bankruptcy in Virginia
Exemption Va code Ann. 34-4
Would it be wise to exempt a tax refund that isn't here yet (2007's) or to amend case if Trustee tries to make it a asset case? Was thinking I didnt want to bring attention to the 6 grand tax refund. TY
Asked on 11/06/07, 10:28 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: Exemption Va code Ann. 34-4
If you are using the 34-4 homestead exemption, under Va. law you MUST claim it timely or it is waived. If you wait for the trustee to act and try to amend, you will be too late. On the other hand, there are tricks that a skilled bankruptcy lawyer can try to use to maximize available exemptions and hopefully avoid trustee action. DO NOT TRY TO DO THIS PRO SE.
Answered on 11/06/07, 11:36 am
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