NEED TO FILE BANKRUPTCY AND EXPECTING A TAX REFUND? SPEAK WITH AN EXPERIENCED BANKRUPTCY ATTORNEY BEFORE FILING YOUR CASE

As we make our way through the current tax season, many potential clients are hoping to find some financial relief via their tax refund. Many of these clients contemplate using their tax refunds to catch up on delinquent household bills. Other potential clients view their refund as an opportunity to repay loans from family members or to pay a debt owed to one of their creditors. However, before spending their tax refunds, it is important that potential clients speak with an experienced bankruptcy attorney. A bankruptcy attorney is able to tell a potential client whether their refund is wholly or partially exempt from his/her bankruptcy estate. Since an experienced bankruptcy attorney will be familiar with the exemptions applicable to a particular client's case, the attorney will be able to advise a potential client if he/she will be allowed to retain their anticipated refund. Finally, an experienced bankruptcy attorney will be able to advise a potential client whether it is a good idea to use their tax refund to pay back certain creditors prior to filing and help to avoid other potential pre-filing pitfalls. Failure to consider the implications of a tax refund prior to filing can result in the disappointment of losing the anticipated refund or the return of funds paid to a family member or creditor prior to filing. If you are considering filing bankruptcy during the current tax season, contact Douglas County Bankruptcy Lawyers today at (770) 485-6620.